PUTRAJAYA: Phase Three of the e-invoicing initiative has received over 4,900 early voluntary participants, according to the Inland Revenue Board (LHDN).
It said the e-invoicing implementation has now entered the second phase and has shown a promising increase in participation.
As of Friday, more than 7,000 taxpayers in Phase Two have adopted the e-invoicing system, LHDN said in a statement yesterday.
“This positive trend brings the total number of active users to 17,000, spanning companies, businesses, and organisations, with about 137 million e-invoices issued.
“This growing number reflects a continuous improvement in understanding and acceptance of the e-invoicing system among taxpayers,” it said, Bernama reported.
The board announced that e-invoicing will be fully implemented on July 1, encompassing all taxpayers, including micro, small, and medium enterprises (MSMEs).
Currently, the government has agreed to exempt over 700,000 micro and small enterprises with annual sales below RM150,000 from mandatory e-invoicing.
“The government strongly encourages the participation of micro and small enterprises to voluntarily adopt the e-invoicing initiative, in line with the nation’s aspirations towards digitalising business operations,” LHDN said.
It added that a six-month transition period will be provided to give taxpayers flexibility in issuing consolidated e-invoices, which aggregate all monthly sales transactions.
“During this transition period, no penalties will be imposed on taxpayers which at least issue consolidated e-invoices,” it said.
LHDN also highlighted that the MyInvois Portal is available free of charge for e-invoice submission processes.
