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Navigating the Shift to E-Invoicing: Challenges and Opportunities in Malaysia

Updated: Oct 24, 2023


The chart below shows that global trends and the adoption of e-invoicing are important as they reflect the urgent need for digital transformation in the international business and government sectors.


The upcoming e-invoicing policy in Malaysia is also significant for businesses and taxpayers. It will help reduce the complexity of the tax process, improve tax compliance, and facilitate faster transactions and tax returns.


The Malaysian Budget disclosed the government's decision to make e-invoicing mandatory from 1 August 2024 for taxpayers with annual sales or income exceeding RM100 million.


On the other hand, the government advanced the mandatory implementation timeline for other taxpayers to 1 July 2025, meaning that even small vendors will be required to use e-invoicing.


This is a positive move to boost the digital economy. E-invoicing can improve efficiency, reduce the complexity of the tax process, and help businesses better adapt to the demands of the digital age.


However, the government's decision to bring forward the e-invoicing implementation timetable to 1 July 2025 presents challenges and dilemmas for all businesses. In particular, micro-enterprises, home-based businesses, and even small vendors may face the following issues:


Lack of technological readiness: some microenterprises, home-based businesses, and small vendors usually do not have a sound digital technology base and, therefore, need more time to adapt to the e-invoicing system. Lack of technical knowledge and resources may lead to problems during implementation.


Cost pressure: Adopting an e-invoice system may require some investment, including purchasing necessary software and staff training. Small vendors may feel an increased financial burden.


Complexity of tax payment process: For vendors who have never used e-invoicing before, the new tax payment process may become more complex and require more time to learn and adapt.


Customer adaptation period: Customers also need to adapt to e-invoicing and may need more time to understand and accept the new payment method.


The government should consider these issues when implementing e-invoicing in advance and provide support and training to ensure a smooth transition to the new system for all taxpayers. At the same time, businesses will need to proactively prepare and find appropriate solutions to ensure they are able to comply with government regulations without too much disruption.


Overall, adopting e-invoicing is undoubtedly an inevitable trend in the digital age, with a wide range of benefits. However, prior implementation, in-depth knowledge and preparation are vital to ensure a smooth transition.


Firstly, businesses and governments need to understand how e-invoicing systems work and their processes. This includes learning how to create, deliver and store e-invoices, as well as how to ensure compliance and data security. A thorough understanding will help avoid operational errors and regulatory violations.


Next, training and education are critical. Employees need to be equipped with the skills to use an e-invoicing system, including using relevant software and tools. The government can provide training courses, while companies can conduct their own in-house training to ensure employees are proficient in their new skills.


Finally, compliance and data security must be emphasised. Governments and businesses must ensure that their e-invoicing systems comply with regulatory requirements and take the necessary steps to protect sensitive data. This helps build trust while reducing potential risks.


Considering that the Software Development Kit (SDK) has yet to be released and there are less than ten months to get it ready, we would like to ask the government if this is the right thing to do.



Attachments | 附件:

e-invoice Guideline | 电子发票指南

241.1.1 IRBM e-invoice Guideline (Version 2.0)
.pdf
Download PDF • 1.14MB

e-invoice Specific Guideline | 电子发票具体指南

241.2 e-Invoice Specific Guideline Version 1.0 (published on 29 September 2023)
.pdf
Download PDF • 2.56MB

e-Invoice Catalogue | 电子发票目录

241.3 e-Invoice Catalogue (published on 29 September 2023)
.xlsx
Download XLSX • 190KB

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Facebook Live on e-invoicing


上图显示,电子发票的全球趋势和采用情况是非常重要的,因为它们反映了全球商业和政府部门对数字化转型的迫切需求。


随着电子发票的广泛采用,企业能够提高效率、减少成本,并更好地适应数字化经济的需求。


在马来西亚,即将实施的电子发票政策对企业和纳税人来说也具有重要意义。这将帮助降低纳税程序的复杂性,提高纳税合规性,并促进更快速的交易和报税。


马来西亚财政预算案中披露政府决定自2024年8月1日开始强制要求年度销售额或收入超过1亿令吉的纳税人实施电子发票。


另一方面,政府提前将其他纳税人的强制实施时间表提前至2025年7月1日,这意味着即使是小摊贩也将被要求使用电子发票。


这对于推动数字化经济发展是一项积极的举措。电子发票可以提高效率,减少纳税程序的复杂性,并帮助企业更好地适应数字时代的需求。


然而,政府提前将电子发票实施时间表提前至2025年7月1日的决定,对各类企业都带来了挑战和困境。尤其是微型企业、家庭式企业、甚至是小摊贩,他们可能会面临以下问题:


技术准备不足:一些微型企业、家庭式企业、小摊贩通常不具备完善的数字技术基础,因此需要更多时间来适应电子发票系统。缺乏技术知识和资源可能会导致实施过程中出现问题。


成本压力:采用电子发票系统可能需要一定的投资,包括购买必要的软件和培训工作人员。小摊贩可能会感到财务负担增加。


纳税流程复杂性:对于从未使用电子发票的小摊贩来说,新的纳税流程可能会变得更加复杂,需要更多时间来学习和适应。


顾客适应期:顾客也需要适应电子发票,可能需要更多时间来理解和接受新的付款方式。


政府在提前实施电子发票时应考虑到这些问题,并提供支持和培训,以确保所有纳税人都能顺利过渡到新的系统。同时,企业也需要积极准备,寻找适当的解决方案,以确保他们能够遵守政府的规定,同时不会受到太大的干扰。


总的来说,电子发票的采用无疑是数字时代的必然趋势,具有广泛的好处。然而,在实施之前深入了解和准备是至关重要的,以确保顺利过渡。


首先,企业和政府需要深入了解电子发票系统的工作原理和流程。这包括学习如何创建、传递和存储电子发票,以及如何确保合规性和数据安全性。透彻的了解有助于避免操作错误和法规违规。


其次,培训和教育是至关重要的。员工需要掌握使用电子发票系统的技能,包括使用相关软件和工具。政府可以提供培训课程,而企业也可以自主进行内部培训,以确保员工熟练掌握新技能。


最后,合规性和数据安全性必须得到重视。政府和企业需要确保他们的电子发票系统符合法规要求,并采取必要的措施来保护敏感数据。这有助于建立信任,同时减少潜在的风险。


考虑到软件开发工具包(SDK)尚未发布,只有不到十个月的时间来做好准备,试问政府,这是否是明智之举?





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