MIEF is honoured to have engaged in a constructive dialogue with Deputy Minister of Finance, YB Lim Hui Ying and officers from LHDN to discuss the government’s e-Invoice implementation and its impact on businesses nationwide.JOHOR BARU: The Inland Revenue Board (LHDN) has recorded 3.8 million e-invoice transactions through the MyInvois system, which was launched on Aug 1.
Deputy Finance Minister Lim Hui Ying said that 3,500 companies with annual revenues or sales exceeding RM100mil a year participated in the first phase of the e-invoicing system.
“Everything has been going smoothly, and we have received positive feedback on this (e-invoice).
“We believed that the positive feedback was due to the eagerness of companies to learn about this new system; even companies that are not part of the mandatory categories have also tried our MyInvois system, which is a good sign,” she said.
She said after the closing ceremony of the e-invoicing and Budi Madani briefing at a hotel here, on Sunday (Aug 11).
Lim added that the first phase of e-invoicing began on Aug 1 and involved approximately 5,000 companies with annual turnovers exceeding RM100mil.
“So far, 3,500 companies have submitted their invoices, while another 1,500 companies have been given six months to conduct consolidated invoices, where they are required to submit their invoices on the first week of every month.
“We have also received feedback from petty traders and micro, small, and medium enterprises such as those selling ‘pisang goreng’ or ‘nasi lemak’; rest assured, as long as they do not have annual sales below RM150,000, they are not required to issue e-invoices,” she said.
Lim also urged companies that have not implemented the system to do so immediately so that they can adapt to the changes faster and receive help on any issues that they might encounter.
“It will only take a few seconds for them to receive an e-invoice that the LHDN approves, so the faster they try the MyInvois system, the better,” she added.
Earlier, Lim said that e-invoice submission would be optional for the first six months to allow companies to adapt and that the full implementation will begin in January next year.
Phase 2 is set to begin on January 1 next year for companies earning RM100mil to RM25mil.
By July 1, 2025, all other taxpayers, including hawkers, petty traders, and micro, small, and medium enterprises, are expected to join, except those with annual turnovers under RM150,000.
For inquiries and assistance, users can contact the IRB's 24-hour hotline at 03-8682 8000, or reach out to MyInvois Live Chat, myinvois@hasil.gov.my or the feedback page at https://feedback.myinvois.hasil.gov.my.
