Editor’s Note
This article outlines upcoming regulatory changes affecting e-invoicing practices for certain high-value and industry-specific transactions. Readers are advised to consult official sources for detailed compliance requirements.
Starting January 1 next year, business transactions valued over RM10,000, as well as transactions in the power and telecommunications industries, will no longer be allowed to issue consolidated e-invoices.
Deputy Finance Minister Lim Hui Ying stated that the ban on the power industry applies to Malaysia’s main electricity service providers, which are responsible for distributing, supplying, or selling electricity to end-users.
She pointed out today in the Dewan Rakyat while answering an additional question from Syed Ibrahim Syed Noh (PH-Ledang) regarding specific guidelines for consolidated transactions in the e-invoicing system, that the telecommunications industry covers service providers offering postpaid packages, internet subscriptions, and bundled packages with electronic devices.
Lim Hui Ying added.
She noted that merchants must submit the receipt details to the Inland Revenue Board (IRB) within the first seven days of the following month.
The government had previously announced, through the Ministry of Finance, a ban on consolidated e-invoicing for seven specific industries. These industries include automotive, aviation, luxury goods and jewelry, construction, wholesale and retail of construction materials, licensed gaming and betting, and payments to agents, dealers, or distributors.