Phased introduction based on Italian SdI live electronic invoicing
Malaysia is to become the latest country to introduce mandatory electronic invoicing for Sales and Services Taxes from sometime in 2023. It will be a phased introduction, and likely to reflect the Italian SdI model according to the Inland Revenue Board of Malaysia.
In its latest 2023 Budget on 7th October , the Ministry of Finance stated it was looking to adopt e-invoicing to boost revenues and squeeze unreported transactions. This is part of a broader digitisation of tax administration. A pilot will kick-off at the start of the year with a phased introduction for other taxpayers during the rest of the year.
E-invoicing has been permitted in Malaysian since 2015. Both parties, the vendor and customer, must be in agreement. Electronic invoices should be retained for at least seven years.
VATCalc’s international live VAT invoice transaction and e-invoice tracker on real-time transaction-based tax reporting lists all the countries imposing transaction-based reporting.
Malaysia had introduced a full VAT regime – termed Sales and Services Taxes – between 2015 and 2018. But it returned to the old sales tax, Goods and Services Taxes. It is likely that Malaysian GST will return.
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E-invoicing has been permitted in Malaysian since 2015. Both parties, the vendor and customer, must be in agreement. Electronic invoices should be retained for at least seven years.
VATCalc’s international live VAT invoice transaction and e-invoice tracker on real-time transaction-based tax reporting lists all the countries imposing transaction-based reporting.
Malaysia had introduced a full VAT regime – termed Sales and Services Taxes – between 2015 and 2018. But it returned to the old sales tax, Goods and Services Taxes. It is likely that Malaysian GST will return.
Asia Pacific e-invoicing
Country | Date | Comments (click for details) |
Australia | Jul 2023 | PEPPOL-based e-invoicing with no govt intervention B2B |
China | Jan 2023 | Special e-fapiao VAT invoice being piloted with 2023 full implementation |
India | Oct 2020 | B2B pre-clearance with separate B2C; completed Apr 2021 |
Indonesia | Jul 2015 | e-Factur Pajak electronic invoicing |
Japan | Oct 2023 | Tax qualified invoices |
Kazakhstan | Jan 2017 | e-invoicing IS ESF |
Kyrgyzstan | Jan 2023 | Mandatory e-invoicing for goods |
Malaysia | 2023 | e-invoicing pre-clearance |
Mauritius | 2023 | e-invoicing System with digital transaction reporting |
New Zealand | Mar 2022 | B2G PEPPOL-based e-invoicing |
Philippines | Jul 2022 | 2022 pilot of e-invoices; to follow South Korea model |
Singapore | TBC | Mandatory B2G e-invoicing on InvoiceNow |
South Korea | 2011 | Near real-time invoice reporting |
Taiwan | 2017 | Electronic GUI invoices; non-residents since 2020 |
Thailand | 2018 | E-invoice reporting where adopted |
Vietnam | Nov 2021 | Pre-clearance B2B verification code e-invoice |