E-INVOICE
What is E-Invoice?
Every invoice must be be sent to LHDN for approval and validation by the Inland Revenue Board (IRB) before it can be printed as a verified invoice for your customer, IRBM will validation includes TIN and e-Invoice data structures/format. Upon validation of the e-Invoice, the supplier is obliged to share the cleared e-Invoice with the buyer after embedding the validated link (provided bt IRBM) in a form of QR code on the e-Invoice. The QR code can be used to validate the existence and status of the e-Invoice via MyInvois Portal.
How Long Does E-Invoice Validation Take?
Who Are Required To Implement E-Invoice?
Businesses in Malaysia can voluntarily adopt E-Invoicing with the Inland Revenue Board (LHDN) from August 1, 2024, E-Invoicing will be mandatory for all business based on their turnover or revenue thresholds, and will be implemented in phases. Businesses with annual turn over more than RM100 milion the original implementation date of June 1, 2024 has been postponed to August 1, 2024. However, following the budget annoucement by the Prime Minister on October 13, 2023, the implementation date for all other businesses has been bring forward by 18 months early to July 1, 2025. The implementation details are as follows:
What E-Invoice Information Will Be Store in IRBM Database?
1. General Information
2. Supplier & Customer Information
3. Item Information
4. Validation Information
This includes the IRBM Unique Identifier Number, validation date and time, and validation status of the invoice.
5. Digital Certificates/Signature
Digital Certificates will be issued to taxpayers to enable them to attach digiral signatures to e-Invoices. The digital signature will verify that the submitted e-Invoice data orginates from a specifiv taxpaper.
6. Additional Information (Optional)
This may include payment mode, supplier bank account, payment terms, payment amount, payment date, payment reference number, bill reference number, and other relevant information.