Malaysia introduces country-wide e-invoicing mandate

On 12 April, the Malaysian government announced plans to introduce mandatory e-invoicing for all businesses in the country. A gradual introduction will commence in June 2024 and end in 2027.

The news was announced in a service provider engagement session organized by the Inland Revenue Board of Malaysia (LHDNM) and the Malaysian Digital Economy Corporation (MDEC). 

“We have been following the developments in Malaysia for some time and are excited to see another nation accelerate in their journey towards digitalising business communication. With the ambition to become the world’s largest network for business communication and the number one choice for multinationals seeking a global provider for e-invoicing compliance, we will continue monitor the developments on the market”, says Bengt Nilsson, CEO of Pagero.
 
This e-invoicing system obligation includes B2G, B2B, and B2C transactions; domestic and cross-border; in all industries and sizes of companies. LHDNM will start pilot projects with selected taxpayers at the beginning of 2024 and introduce the mandatory implementation gradually, based on the business revenue:

June 2024: Businesses sales > RM 100 million (ca. EUR 20 770 000) per year;
January 2025: Businesses sales > RM 50 million (ca. EUR 10 400 000) per year;
January 2026: Businesses sales > RM 25 million (ca. EUR 5 200 000) per year;
January 2027: Mandatory for all businesses and including B2C transactions.

This announcement and the information contained is not considered to have significant direct impact on Pagero Group’s performance. 

For questions, please contact:
Oscar Wegland
Chief Marketing Officer
oscar.wegland@pagero.com

About Pagero

Pagero provides a Smart Business Network that connects buyers and sellers for automated, compliant, and secure exchange of orders, invoices, payment instructions and other business documents. With an open network and a wide range of value-added apps, Pagero helps businesses streamline their order-to-cash and purchase-to-pay processes while unlocking the full potential of accurate and reliable business data. All of this, regardless of location, industry, size or systems. Find out more on pagero.com.