On 29 September, 2023, the Inland Revenue Board Of Malaysia (IRBM) published that for businesses with an annual turnover of RM100m (£17.2m) and above, E-Invoicing will be mandatory from 1 June, 2024 and for all other businesses from 1 January, 2027.
This will apply to both domestic and cross-border transactions. There will be two options for transmitting E-Invoices, on the one hand, the supplier can create an E-Invoice and share it to IRBM via the MyInvois Portal, or on the other hand the supplier can use an API (Application Programming Interface).
The Malaysia Digital Economy Corporation (MDEC) is Malaysia’s Peppol Authority and accredits Malaysia’s Peppol service providers and Peppol ready solution providers under the consideration of local requirements and technical standards. At the E-Invoicing Exchange Summit in Singapore from December 4 to 6, 2023 Datuk Fadzli Abdul Wahit, senior vice president, digital industry development, MDEC will give an update on the status quo of the Malaysian E-Invoicing initiative.
Among others, these expert speakers and thought leaders have confirmed their contributions:
- Kiren Kumar, deputy chief executive, IMDA, Singapore
- André Hoddevik, secretary general, OpenPeppol
- Mark Stockwell, director eInvoicing, taxation office, Australia
- Michael Alp, COO, ministry of business, innovation and employment, New Zealand
- Hiroyuki Kato, director, digital agency, Government of Japan
- Mehrdad Talaifar, digital tax technology strategy and operational tax transformation executive, UAE
- Michel Gilis, head of interoperability working group, Global Exchange Network Association
- Dolf Kars and Alex Baulf, board of directors, DBN Alliance, USA
The E-Invoicing Exchange Summit is a unique opportunity to get in personal contact with these leading experts from governments and industries to elaborate on the recent developments and future trends in the field of E-Invoicing and E-Reporting – with a strong focus on APAC countries.
The registration link for the Summit can be found here.
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