Thursday 4th August, 2022
Malaysia is planning to introduce Electronic invoicing according to the 2023 Pre-Budget statement by the Ministry of Finance.
To support growth of the digital economy, the Malaysian Government intends to implement e-Invoicing in stages in effort to enhance the efficiency of the country's tax administration management. A timeline for implementing e-Invoicing has not been set up.
Malaysia joins a growing list of countries that are digitalising their tax administrations by switching to e-invoicing.
The e-invoicing initiative will also support the usage of TIN (tax identification number) which will be introduced in Malaysia at some point during this year.