The Inland Revenue Board of Malaysia (IRBM) has granted an exemption from the e-Invoice issuance requirement for taxpayers with an annual turnover or revenue below RM150,000.
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However, the following scenarios do not qualify for the exemption:
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1️⃣Taxpayer with non-individual shareholder(s) (or their equivalent) with annual turnover or revenue exceeding RM150,000
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2️⃣Taxpayer is a subsidiary of a holding company with annual turnover or revenue exceeding RM150,000.
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3️⃣Taxpayer with related company / joint venture whose annual turnover or revenue exceeds RM150,000.
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The IRBM has also provided further clarification regarding the calculation of the RM150,000 threshold for Sole Proprietorships:
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4️⃣ For sole proprietorships, the RM150,000 threshold applies to the combined annual turnover or revenue of all sole proprietorship businesses owned or registered under the respective sole proprietor’s name.
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For more information on the above-mentioned, kindly refer to General e-Invoice FAQ dated 4 October 2024 : HERE
