Do businesses need to submit an e-Invoice within the same day the transaction is being made?There is no specific requirement on the timing of e-Invoice issuance, except in specific cases such as consolidated e-Invoice, self-billed e-Invoice for importation of goods / services and e-Invoice for foreign income.For consolidated e-Invoice, suppliers are required to issue the consolidated e-Invoice within seven (7) calendar days after the month end
- For consolidated e-Invoice, suppliers are required to issue the consolidated e-Invoice within seven (7) calendar days after the month end.
- For consolidated e-Invoice, suppliers are required to issue the consolidated e-Invoice
within seven (7) calendar days after the month end.
- For self-billed e-Invoice for importation of services, the Malaysian purchasers are required
to issue self-billed e-Invoice latest by the end of the month following the month upon (1)
payment made by the Malaysian purchaser; or (2) receipt of invoice from foreign supplier,
whichever earlier. The determination of the aforementioned (1) and (2) is in accordance
with the prevailing rules applicable for imported taxable service.
- For e-Invoice for foreign income, the suppliers (i.e., income recipients) are required to
issue the e-Invoice latest by the end of the month following the month of receipt of the said
foreign income.
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Where any specific legislation is applicable, you may proceed to follow as per the said
legislation.
. Does the MyInvois Portal allow for e-Invoice to be created and stored in draft form prior to
finalisation and issuance?
Yes, the supplier will be able to create e-Invoice in draft or proforma. e-Invoice will only be
accepted once the validation is successful.
What are the consequences for failure to issue e-Invoice?
Failure to issue e-Invoice is an offence under Section 120(1)(d) of the Income Tax Act 1967
and will result in a fine of not less than RM200 and not more than RM20,000 or imprisonment
not exceeding 6 months or both, for each non-compliance.