Looking to implement e-invoicing gradually in 2023
According to the 2023 Pre-Budget statement, the Malaysian Ministry of Finance intends to implement e-invoicing as a means of increasing tax revenue and digitalizing tax administration in the country. The e-invoicing initiative will also support the use of the TIN (Tax Identification Number) in Malaysia, which will be implemented in 2022. The Statement points out that e-invoicing will be introduced in stages from 2023. However, no specific timeline has been mentioned. We are closely monitoring the developments in Malaysia and will continue to keep our customers informed.