{Tax Update} IRBM e-Invoice Guideline 2.1

{Tax Update} e-Invoice Guideline 2.1

Latest Development on e-Invoice

The Inland Revenue Board (IRB) has issued updated e-Invoice Guidelines, including:

e-Invoice Guideline (version 2.1)
e-Invoice Specific Guideline (version 1.1)

Key updates in the guidelines: e-Invoice Guideline (version 2.1):

Removed references to non-business transactions between individuals.
Revised implementation timeline:
1. 1 August 2024 - Mandatory for taxpayers with an annual turnover/income exceeding RM100 million.
2. 1 January 2025 - Mandatory for taxpayers with an annual turnover/income between RM25 million and RM100 million.
3. 1 July 2025 - Mandatory for all other taxpayer categories.

Key updates e-Invoice Specific Guideline (version 1.1):

Requires service tax amount inclusion in self-billed e-Invoices for imported taxable services.
Extends the deadline for issuing e-Invoices for foreign income received in Malaysia from the same month to the end of the following month.

Reference to Past Blog on e-Invoice

e-Invoice Guideline 2.0 https://www.ktp.com.my/blog/tax-update-e-invoice-guideline-2/12oct23
Transition Challenges and Strategies https://www.ktp.com.my/blog/e-invoicing-malaysia-transition-challenges-and-strategies/17aug23
The Workflow https://www.ktp.com.my/blog/e-invoicing-malaysia-the-workflow
Are You Ready https://www.ktp.com.my/blog/e-invoicing-malaysia-are-you-ready/10aug23
The Coverage https://www.ktp.com.my/blog/e-invoicing-malaysia-coverage/3aug23
The Timeline https://www.ktp.com.my/blog/e-invoicing-malaysia-timeline/2aug23

Source

Guidelines are accessible on IRB's website: www.hasil.gov.my (Home > e-Invoice)

IRB e-Invoice version 2.0 https://www.hasil.gov.my/media/nofmzbk1/irbm-e-invoice-guideline-version-20.pdf

Visit Us

Wisma KTP, 53 Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru
Wisma THK, 41, Jalan Molek 1/8, Taman Molek, 81100 Johor Bahru

KTP (Audit, Tax, Advisory)

An approved audit firm and licensed tax firm operating under the KTP group based in Johor Bahru providing audit, tax planning, advisory and compliance services to clients

THK (Secretarial, Bookkeeping, Payroll, Advisory)

A licensed secretarial firm in Johor Bahru providing fast reliable incorporation, secretarial services, corporate compliance services, outsourcing bookkeeping, and payroll services to clients