The Inland Revenue Board of Malaysia (IRBM) has announced the rollout of the second phase of its e-invoicing mandate. This phase is scheduled to begin on 1 January 2025 and will target medium-sized businesses with an annual turnover of between RM25 million and RM100 million, requiring them to comply with digital invoicing standards.
Businesses that are in this category are required to submit e-invoices (including credit, debit and refund e-invoices) using UBL2.1 in XML or JSON formats. E-invoices can be submitted via the MyInvois portal or via the MyInvois system (API), which is designed for larger businesses but potentially require significant technology upgrades. There will be a grace period from 1 January to 30 June 2025, during which penalties for non-compliance will not be enforced, to ease the transition. Full compliance will be mandatory by 1 July 2025.
