Legal Updates August 2023

Corporate/M&A

Publication of Guideline relating to EInvoice by the Inland Board of Revenue Malaysia

On 21 July 2023, the Inland Board of Revenue Malaysia ("IRBM") issued a Guideline addressing the basic concepts and implementation of the e-Invoice in Malaysia ("Guideline"), following a collaboration between the Malaysian Digital Economy Corporation ("MDEC") and IRBM on the National eInvoicing initiative.

The Guideline, amongst others, presents simplified e-Invoice concepts in an easy-to-understand manner (in particular, explaining what an e-Invoice is and is not), provides step-bystep guidance on the implementation and compliance of eInvoicing as well as assists taxpayers to assess their readiness with the new invoicing process.