Type: Legislation
Malaysia’s Inland Revenue Board (LHDN) has launched a sandbox trial environment for its MyInvois e-invoicing system, allowing integration trials for selected companies starting in May 2024 and expanding to all taxpayers in August. The phased rollout schedule mandates e-invoicing for taxpayers with annual turnover exceeding MYR 100 million from August 2024, followed by medium-sized taxpayers in January 2025, and all others by July 2025.
The MyInvois system requires sales invoices to be sent to tax authorities for verification via the government’s API before issuance to customers, emphasizing compliance with the Continuous Transaction Control (CTC) model. Updates include new invoice fields, digital signature guidance, and API documentation enhancements.
To support this transition, LHDN has issued guidelines covering transaction types, data fields, and implementation timelines. E-invoicing will streamline tax administration, with broader digitization initiatives underway. For businesses needing compliance support, integration with the MyInvois system is crucial given the forthcoming e-invoicing requirements in Malaysia.
Effective date: August, 2024
