Getting equipped for e-invoicing

TheStar Mon, May 13, 2024 04:29pm - 1 year View Original


PwC Malaysia says implementing e-invoicing as a digital reporting service can be tricky due to the complexity of businesses’ current accounting systems and compliance requirements by tax authorities. - Photo: rawpixel.com on Freepik

THE days of paper and electronic document invoices, plus credit and debit notes, look to be numbered with the mandatory e-invoicing for companies coming into force in phases from August.

But there are questions. Is Malaysia ready for this change and what will the implications of this change be?

The e-invoicing will start with companies which make above RM100mil in sales and gradually cover all companies, with the system overseen by the Inland Revenue Board (IRB).

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