e-Invoicing: Why issuing self-billed e-Invoice matters now?
- What is self-billed e-Invoices?
When a sale or transaction is concluded, an e-Invoice is issued by Supplier to recognise income of the Supplier (proof of income) and as a record for purchases made / spending by Buyer (proof of expense).
However, there are certain circumstances where another party (other than the Supplier) will be required to issue a self-billed e-Invoice. - What are the transactions that require self-billed e-Invoices?
For e-Invoice purposes, Buyer (assumes the role of Supplier) and issue self-billed e-Invoices for the following transactions:No Transaction Supplier Buyer 1 Payment to agents, dealers and distributors Agents, dealers and distributors Taxpayer that makes the payment 2 Goods sold or services rendered by foreign suppliers Foreign seller Malaysian Purchaser 3 Profit Distribution (dividend distribution) Recipient of the distribution Taxpayer that makes the distribution 4 E-Commerce Merchant, service providers E-Commerce / Intermediary Platform 5 Pay-out to all betting and gaming winners Recipient of the pay-out Licensed betting and gaming provider 6 Acquisition of goods or services from individual taxpayers who are not conducting a business Individual taxpayer providing goods or services Person acquiring goods or services 7 Interest Payment Recipient of interest payment Taxpayer that makes the interest payment 8 Claim, compensation or benefit payments from the insurance business of an insurer Policyholder / Beneficiary Insurer - Can I issue self-billed e-Invoice for any circumstance that is not listed under Section 8.3 of the e-Invoice Specific Guideline?
No, please note that issuance of self-billed e-Invoice is only permitted for circumstances that are provided under Section 8.3 of the e-Invoice Specific Guideline.
- Can I issue self-billed e-Invoice if my supplier did not issue e-Invoice to me?
Issuance of self-billed e-Invoice is only permitted for circumstances that are provided under Section 8.3 of the e-Invoice Specific Guideline. Where the transaction does not fall within Section 8.3 of the e-Invoice Specific Guideline, taxpayers are not allowed to issue self-billed e-Invoice.
- Is there a way to better understand the mechanism, implementation, self-billed for e-Invoice?
Yes, you can gain further insights into the e-Invoice mechanism and workflow by referring to the official guidelines published by the Inland Revenue Board of Malaysia (IRBM).
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- Download e-Invoice Guideline Version 4.0 (published on 04 October 2024)
- Download e-Invoice Specific Guideline Version 3.1 (published on 04 October 2024)
- View e-Invoice Illustration Guide (Updated on 11 September 2024)
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You may also consider attending e-Invoice training courses for detailed guidance.
For more information or to register, please visit the contact link below: ANCGroup_E-Invoice Courses Contact.
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