(Tax Update) E-Invoice Guideline (Version 3.2)

This e-Invoice Guideline (Version 3.2) dated 30 July 2024 replaces the e-Invoice Guideline (Version 3.1) issued on 19 July 2024. The key changes made to this Guideline are 

Key Updates in E-Invoice Guidelines ( Version 3.2)

Interim Relaxation Period:

• A new Section 16 introduces a six-month interim relaxation period from the mandatory e-Invoice implementation date for each phase, offering taxpayers greater flexibility in adopting e-Invoice practices.

Consolidated e-Invoices:

• Taxpayers can now issue consolidated e-invoices for all transactions, including self-billed e-invoices, during the relaxation period.

Flexibility in Description Field:

• During the relaxation period, there's more leniency in the \'\'Description of Product or Service\'\' field, eliminating the need for specific receipt/statement/bill references.

No Individual e-Invoices Required on Request:

• Taxpayers are not obligated to issue individual e-invoices upon buyer/supplier requests during the relaxation period, provided they comply with consolidated e-invoice requirements.

Suspension of Prosecution:

• IRBM will not pursue prosecution under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice requirements during the interim period, as long as consolidated e-invoice rules are followed.

Implementation Timeline:

• Specific dates for the interim relaxation periods:

  • Large businesses: 1 August 2024 to 31 January 2025

  • Medium-sized businesses: 1 January 2025 to 30 June 2025

  • All other taxpayers: 1 July 2025 to 31 December 2025

Exemption Expansion:

• Taxpayers with an annual turnover of less than RM150,000 are now exempted from issuing e-Invoices, including self-billed e-Invoices.

Consolidated Self-Billed e-Invoices Specifics:

• Issued monthly, within seven calendar days after month-end, with required details such as supplier’s name (\'\'General Public\'\'), TIN number (\'\'EI00000000010\'\'), and MSIC code (\'\'00000\'\').

These updates aim to ease the transition to the e-Invoice system, giving businesses more time and flexibility to adjust their processes.

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