GEORGE TOWN, May 23 — Approximately 293 million e-invoices have been successfully issued as of this month since the system was launched in August 2024, said Deputy Finance Minister Lim Hui Ying.
This demonstrates strong industry cooperation and a commendable achievement in the initial implementation of the system provided by the government through the Inland Revenue Board (LHDN).
She said that e-invoicing has not yet been made mandatory for small traders earning below RM150,000 annually, but early participation is still encouraged so they can benefit from digitalisation, including more systematic financial management and wider financing opportunities.
"The government is also taking a gradual and flexible approach to implementation, emphasising the principle of 'educate first, correct later'."
"Various forms of assistance are being provided, including training sessions, guidelines, and access to the MyInvois portal to support understanding and implementation at the grassroots level," Lim said during a special e-invoice briefing session for non-governmental organisations (NGOs) tonight.
She added that the programme aims to provide clear, practical, and detailed explanations about e-invoicing and serve as an open dialogue platform for all parties to share views and suggestions to strengthen the system to be implemented.
With close cooperation from various parties, especially NGOs, religious bodies like temples, shrines, and community organisations, implementing e-invoicing is expected to enhance efficiency, transparency, and financial compliance, in line with the government's efforts to modernise the tax system and support Malaysia's digital economic growth.
Lim noted that implementing e-invoicing is not merely a technical change but a systemic transformation of the country's tax management.
The third phase of full e-invoice implementation will begin on July 1 and will involve all types of businesses, including micro, small, and medium enterprises (MSMEs).
The e-invoice implementation began on August 1 last year, for companies with annual sales exceeding RM100 million, with the second phase starting on January 1 this year for companies with annual sales between RM25 million and RM100 million.
— Bernama
