Malaysia
E-invoicing implementation in 2024
Malaysia has permitted e-invoicing since 2015 but it is not widely used. According to the 2023 Budget, the Ministry of Finance intends to adopt nationwide e-invoicing to boost revenues and reduce unreported transactions.
The Inland Revenue Board (LHDN) recently announced plans to implement e-invoicing in phases, starting in early 2024. LHDN's chief executive officer, Datuk Dr Mohd Nizom Sairi, stated that the e-invoicing platform will allow taxpayers to upload and store their purchase records online with LHDN. As a result, receipts no longer need to be kept on paper since they are already available electronically.
Malaysia is one of Tungsten's key compliant territories. We are observing e-invoicing developments in the country to see how we can best serve our Malaysian customers in the future
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