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E-Invoice Guideline 2023

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Further to the announcement of the Government’s implementation of electronic invoicing in 2024, the Inland Revenue Board (“IRB”) issued the e-Invoice Guideline 2023 on 21 July 2023 to enable instant/nearly instant validation and storage of transactions, catering to Business-to-Business (“B2B”), Business-to-Customer (“B2C”) and Business-to-Government (“B2G”). The implementation of e-Invoice will not only provide seamless experience to taxpayers but also improve the business efficiency and increases tax compliance.

Implementation timeline

The e-Invoice will be implemented in phases, based on the turnover or revenue thresholds of business as follows:
   
​1 June 2024
​1 January 2025
​1 January 2026
​1 January 2027
​Mandatory implementation for taxpayers with an annual turnover or revenue in excess of RM 100 million
​Mandatory implementation for taxpayers with an annual turnover or revenue in excess of RM 50 million and up to RM 100 million
​Mandatory implementation for taxpayers with an annual turnover or revenue in excess of RM 25 million and up to RM 50 million
​Mandatory implementation for all taxpayers and certain non-business transactions
Implementation on a voluntary basis for taxpayers regardless of their annual turnover or revenue​ ​
​

Transmission mechanisms

To facilitate taxpayer’s transition to e-invoice, the IRB has developed two distinct e-invoice transmission mechanisms:
  • A portal (MyInvois Portal) hosted by the IRB that enables individual generation through a comprehensive form and the option for batch generation through spreadsheet upload for processing multiple transactions; and 
  • An Application Programming Interface (“API”) that enables businesses to conveniently transmit a high volume of transactions. 

Taxpayers can select the most suitable mechanism to transmit e-invoices to the IRB, based on their specific needs and business requirements. 

Assessing readiness for e-Invoicing

To ensure that businesses are ready for the implementation of e-Invoicing, below are a few key steps that can be carried out to assess the readiness and standardisation:
   
  • Allocate and equip personnel with the necessary capabilities to adopt and oversee the implementation of e-Invoicing;
  • Determine availability of data sources and structure, current IT capabilities to support system readiness and processes to comply with e-invoice requirements and obligations; and
  • Review current processes in issuing transaction documents (i.e. invoice, debit note, credit note, refund). 

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