{"id":5170,"date":"2024-11-27T11:43:32","date_gmt":"2024-11-27T03:43:32","guid":{"rendered":"https:\/\/ancgroup.biz\/?p=4400"},"modified":"2024-11-27T11:43:32","modified_gmt":"2024-11-27T03:43:32","slug":"relaxation-period-e-invoice","status":"publish","type":"post","link":"https:\/\/ancgroup.biz\/cn\/relaxation-period-e-invoice\/","title":{"rendered":"Relaxation Period for E-Invoice Malaysia: Latest Updates 2024"},"content":{"rendered":"

Relaxation Period for E-Invoice Malaysia: Latest Updates 2024<\/b><\/a><\/h3>\n

\"Relaxation<\/p>\n

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  1. \n
    What is the E-Invoice Interim Relaxation Period in Malaysia?<\/strong><\/h5>\n

    The Government of Malaysia has introduced an interim relaxation period for businesses to smoothly transition to the mandatory adoption of e-Invoice. The relaxation is divided into three stages based on annual turnover.<\/p>\n\n\n\n\n\n\n
    \u5426<\/b><\/td>\nTaxpayers<\/b><\/td>\n\u5b9e\u65bd\u65e5\u671f<\/b><\/td>\n\u5bbd\u9650\u671f<\/b><\/td>\n<\/tr>\n
    1<\/td>\nTaxpayers with an annual turnover or revenue of more than RM100 million<\/td>\n1 August 2024<\/td>\n1 August 2024 to
    \n31 January 2025<\/td>\n<\/tr>\n
    2<\/td>\nTaxpayers with an annual turnover or revenue of more than RM25 million and up to RM100 million<\/td>\n1 January 2025<\/td>\n1 January 2025 to
    \n30 June 2025<\/td>\n<\/tr>\n
    3<\/td>\nAll other taxpayers who exceeds RM150,000<\/td>\n1 July 2025<\/td>\n1 July 2025 to
    \n31 December 2025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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    <\/div>\n<\/div>\n<\/div>\n<\/div>\n
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    <\/div>\n<\/div>\n<\/li>\n
  2. \n
    What are the key points during the E-Invoice Interim Relaxation Period?<\/strong><\/h5>\n

    To ensure a smooth adoption process, the Government has outlined several important measures:<\/p>\n

      \n
    1. Consolidated E-Invoices<\/strong>:
      \nTaxpayers can issue consolidated e-Invoices for all activities and transactions, including those outlined under Section 3.7 of the e-Invoice Specific Guideline<\/a>.<\/li>\n
    2. Consolidated Self-Billed E-Invoices<\/strong>:
      \nBusinesses are allowed to issue consolidated self-billed e-Invoices for the scenarios defined in       Section 8.3 of the guidelines<\/a>.<\/li>\n
    3. Description of Product or Service<\/strong>:
      \nInformation can be added in the “Description of Product or Service” field for both consolidated e-Invoices and self-billed e-Invoices, along with the required reference numbers under       Sections 3 and 4 of the guidelines<\/a>.<\/li>\n
    4. No Individual E-Invoices<\/strong>:\n
      \n
      \n
      Even if a buyer (in the case of e-Invoices) or supplier (in the case of self-billed e-Invoices) requests an individual e-Invoice, businesses are not required to issue them during this period, as long as the guidelines mentioned above are followed.<\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ol>\n<\/li>\n
    5. \n
      Will there be any prosecution for non-compliance during the relaxation period?
      \n<\/strong><\/h5>\n

      No, the Inland Revenue Board of Malaysia (IRBM) will not pursue any prosecution under Section 120 of the Income Tax Act 1967 for non-compliance with the e-Invoice requirements during the interim relaxation period, as long as businesses adhere to the outlined guidelines.<\/li>\n

    6. \n
      Is there a way to better understand the mechanism, implementation, reimbursement and disbursement for e-Invoice?<\/strong><\/h5>\n<\/li>\n<\/ol>\n

      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).<\/p>\n