Articles
01 Aug, 2024

e-Invoicing

e-Invoicing

What is e-Invoice?

It is a digital receipt as proof of transaction between suppliers and buyers. It will carry the same vital information as traditional invoices e.g. supplier and buyer details, item description, quantity, price etc. This is in line with the national digitalisation agenda to improve business efficiency and productivity.

What are the benefits of e-Invoice?

e-Invoice provides seamless experience to taxpayers and improves business efficiency and increases tax compliance.

When is it implemented?

The roll-out will be in phases according to LHDN. These are the milestones for implementation:

  • 1 August 2024 - Taxpayers with annual turnover or revenue of more than RM100 million.
  • 1 January 2025 - Taxpayers with annual turnover or revenue of RM25 million and up to RM100 million.
  • 1 July 2025 - All taxpayers regardless of annual turnover or revenue.

Will Merchantrade be implementing e-Invoice?

Yes, for inquiries regarding e-Invoicing with Merchantrade, please contact [email protected] for further assistance.