Latest news with #MyInvois
The Sun
5 days ago
- Business
- The Sun
E-invoice implementation for revenue below RM5 mln deferred to Jan 1, 2026
KUALA LUMPUR: The Inland Revenue Board (LHDN) announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1 million but not exceeding RM5 million has been postponed to Jan 1, 2026. In a statement here, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. 'The implementation phase for taxpayers with annual income or sales up to RM1 million has been postponed to July 1, 2026,' LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5 million but not exceeding RM25 million coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1 million up to RM5 million and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1 million and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the 'Product or Service Description' field. 'If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only a consolidated e-Invoice without issuing one for each transaction,' the statement said. LHDN also said that during this grace period, no prosecution will be initiated under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice regulations, provided taxpayers adhere to the consolidated e-Invoice requirements. 'Furthermore, starting Jan 1, 2026, taxpayers involved in e-Invoice implementation must issue an e-Invoice for every sale of goods or provision of services exceeding RM10,000, and consolidated e-Invoicing will no longer be permitted,' the statement added. For any inquiries regarding the system's implementation, the public may contact LHDN offices, the e-Invoice Help Desk at 03-8682 8000, MyInvois Live Chat, email myinvois@ or submit a query through the MyInvois Customer Feedback Form at
The Sun
5 days ago
- Business
- The Sun
E-invoice for RM5m revenue deferred to Jan 2026: LHDN
KUALA LUMPUR: The Inland Revenue Board (LHDN) announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1 million but not exceeding RM5 million has been postponed to Jan 1, 2026. In a statement here, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. 'The implementation phase for taxpayers with annual income or sales up to RM1 million has been postponed to July 1, 2026,' LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5 million but not exceeding RM25 million coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1 million up to RM5 million and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1 million and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the 'Product or Service Description' field. 'If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only a consolidated e-Invoice without issuing one for each transaction,' the statement said. LHDN also said that during this grace period, no prosecution will be initiated under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice regulations, provided taxpayers adhere to the consolidated e-Invoice requirements. 'Furthermore, starting Jan 1, 2026, taxpayers involved in e-Invoice implementation must issue an e-Invoice for every sale of goods or provision of services exceeding RM10,000, and consolidated e-Invoicing will no longer be permitted,' the statement added. For any inquiries regarding the system's implementation, the public may contact LHDN offices, the e-Invoice Help Desk at 03-8682 8000, MyInvois Live Chat, email myinvois@ or submit a query through the MyInvois Customer Feedback Form at
New Straits Times
5 days ago
- Business
- New Straits Times
LHDN: e-Invoice implementation for revenue below RM5mil deferred to Jan 1, 2026
KUALA LUMPUR: The Inland Revenue Board (LHDN) today announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1 million but not exceeding RM5 million has been postponed to Jan 1, 2026. In a statement here, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. "The implementation phase for taxpayers with annual income or sales up to RM1 million has been postponed to July 1, 2026," LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5 million but not exceeding RM25 million coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1 million up to RM5 million and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1 million and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the 'Product or Service Description' field. "If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only a consolidated e-Invoice without issuing one for each transaction," the statement said. LHDN also said that during this grace period, no prosecution will be initiated under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice regulations, provided taxpayers adhere to the consolidated e-Invoice requirements. "Furthermore, starting Jan 1, 2026, taxpayers involved in e-Invoice implementation must issue an e-Invoice for every sale of goods or provision of services exceeding RM10,000, and consolidated e-Invoicing will no longer be permitted," the statement added. For any inquiries regarding the system's implementation, the public may contact LHDN offices, the e-Invoice Help Desk at 03-8682 8000, MyInvois Live Chat, email myinvois@ or submit a query through the MyInvois Customer Feedback Form at – BERNAMA
The Star
6 days ago
- Business
- The Star
E-invoicing deadlines for businesses with revenue below RM5mil revised, says LHDN
KUALA LUMPUR: The Inland Revenue Board (LHDN) on Thursday (June 5) announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1mil but not exceeding RM5mil has been postponed to Jan 1, 2026. In a statement, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. "The implementation phase for taxpayers with annual income or sales up to RM1mil has been postponed to July 1, 2026," LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5mil but not exceeding RM25mil coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1mil up to RM5mil and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1mil and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the "Product or Service Description" field. "If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only a consolidated e-Invoice without issuing one for each transaction," the statement said. LHDN also said that during this grace period, no prosecution will be initiated under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice regulations, provided taxpayers adhere to the consolidated e-Invoice requirements. "Furthermore, starting Jan 1, 2026, taxpayers involved in e-Invoice implementation must issue an e-Invoice for every sale of goods or provision of services exceeding RM10,000, and consolidated e-Invoicing will no longer be permitted," the statement added. For any inquiries regarding the system's implementation, the public may contact LHDN offices, the e-Invoice Help Desk at 03-8682 8000, MyInvois Live Chat, email myinvois@ or submit a query through the MyInvois Customer Feedback Form at - Bernama
The Sun
13-05-2025
- Business
- The Sun
IRB: e-Invoice simplifies tax reporting, helps MSMEs plan finances
KUALA LUMPUR: The implementation of e-Invoice will not burden micro, small and medium enterprises (MSMEs) but will provide benefits in business management and tax compliance, according to the Inland Revenue Board (IRB) e-Invoice Division director, Mohamad Rozainy Mohamad Arif. He said the implementation of e-Invoice is to replace manual invoices by containing complete transaction information such as goods, quantity, price, tax and the Tax Identification Number (TIN) of the seller and buyer. 'It helps MSMEs plan finances, simplify loan management and tax reporting, as well as reduce the risk of losing or damaging manual documents,' he said when featured in Bernama Radio's Klinik Cukai HASiL programme today. Mohamad Rozainy said the implementation of the third phase of e-Invoice starting July 1 will involve taxpayers with annual income between RM500,000 and RM25 million, while all other taxpayers will be required to do so starting Jan 1, 2026. Since the implementation of e-invoice in phases starting Aug 1 last year, more than 280 million transactions have been recorded involving almost 30,000 taxpayers, he said. Mohamad Rozainy said in a bid to help taxpayers obtain accurate information and make necessary preparations, various initiatives were provided to support the implementation of e-Invoices, especially for MSMEs, including free briefings nationwide, service counters at IRB offices and a 24-hour helpline at 03-8682 8000. He said IRB also provided the MyInvois portal and app free of charge for all taxpayers, while the MyInvois Electronic Point of Sales (e-POS) System was offered free of charge to MSMEs that did not yet have a point of sale (POS) system. 'The government has also given taxpayers six months' flexibility to implement e-Invoice more flexibly. This flexibility allows sellers to issue a consolidated e-Invoice without having to issue an e-Invoice for each transaction,' he said. Meanwhile, for online traders, especially on local e-commerce platforms, Mohamad Rozainy said the implementation of e-Invoice was the responsibility of the platform provider alone, while MSMEs only needed to ensure their business information was always updated. He said the government also announced an exemption from the implementation of e-Invoice for taxpayers with annual income below RM150,000 to help micro businesses. 'This exemption does not apply to higher-income companies,' he said He also asked all taxpayers to make early preparations by referring to information on the official IRB portal, updating business information and taking advantage of the applications and systems provided for free.
