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The Lembaga Hasil Dalam Negeri (LHDN) Malaysia has made Malaysia
e-Invoice mandatory to be implemented by all businesses. Even the pak cik
selling nasi lemak at the roadside needs to implement e-Invoice in certain
circumstances. Businesses have no time to wait as not only need to upgrade the
IT infrastructure, businesses may required to change certain SOPs in various
departments such as the sales department, finance department or even HR
department. Furthermore, through e-Invoice, LHDN is eying on individual
taxpayers for non-compliance such as claims on personal relief.
With Malaysia Digital Economy Corporation (MDEC) involvement, e-Invoice
implementation will strengthen the digital services infrastructure and
digitalise the tax administration in the country. It also expedites the
Malaysia business digital transformation process, i.e. in line with the Twelfth
Malaysia Plan.
- Understand what is Malaysia e-Invoice
- Identify the impact of e-Invoice on businesses
- Know how e-Invoice system works technically
- Plan your business e-Invoice implementation project plan
- e-Invoice Implementation timeline - Types of e-Invoice - e-Invoice model and workflow (MyInvois Portal and API) - Potential penalty on non-compliance - Record keeping requirements
UNDERSTAND THE FUNDAMENTAL OF E-INVOICE (JULY 2024)
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