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  Self-billed e-invoices, particularly under Malaysian tax regulations, can be tricky if not handled carefully.  Here's a clear, detailed breakdown for your bookkeeper and accounting technician to understand the concept, the relevant rules, and practical actions to avoid any potential penalties: What is a Self-Billed E-Invoice? A self-billed e-invoice is issued by the buyer , instead of the supplier. In a normal transaction, typically, suppliers issue the invoice. But in a self-billing arrangement, it is the customer (recipient or buyer) who prepares and sends the invoice on behalf of the supplier. In Malaysia, self-bill documents are allowed under certain conditions and especially important for SST (Sales and Service Tax) registrants. With the mandatory implementation of e-invoicing (via MyInvois by LHDN) progressively effective from 2024 onwards, it's vital to ensure correct practice and adherence. Why Self-Billing? Usually chosen when: The buy...

 Can we DIY e-Invoicing - no accounting software ? LHDN said can, and they are very kind, make it possible by allowing taxpayer to issue e-Invoice using MyInvois portal under MyTax portal. First, login to MyTax. Then, go to MyInvois Then Choose taxpayer profile In the "Tax payer Porfile", you may download QR code for e-Invoicing (share it to your supplier) Click HERE for e-Invoice template (Microsoft Excel ) to be uploaded to MyInvois There are two version: Extended vs. Standard Standard Click HERE for FAQs prepared by MyTax.

  Here are 20 common questions business owners in Phase 3 and Phase 4 would ask regarding e-Invoicing implementation , along with detailed and straightforward answers, based on guidelines issued by Inland Revenue Board of Malaysia (IRBM): General Information & Implementation Timeline: 1. What is e-Invoicing?    An electronic invoice (e-Invoice) is a digitally structured invoice generated, transmitted, received, and processed electronically via IRBM's MyInvois platform. It replaces traditional paper-based invoices.  2. Who falls under Phase 3 and Phase 4 implementation? Phase 3 : Taxpayers with annual turnover over RM500,000 up to RM25 million (implementation date: 1 July 2025 ). Phase 4 : Taxpayers up to RM500,000 turnover (implementation date: 1 January 2026 ). Refer to IRBM e-Invoice Guideline for more details.  3. Why does Malaysia implement e-Invoices?    To streamline business administra...

Upgrade Your Invoicing Accounting Software:  ABSS Connect (from ABSS) Bukku.my (cloud) Quickbooks Online (cloud) QNE Cloud AI Embrace e-Invoicing for Your SME in Malaysia! Malaysia’s e-invoicing mandate is reshaping how businesses manage financial transactions, and SMEs are now at the forefront of this digital transformation.  With recent updates to the implementation timeline, SMEs have more time to adapt, but proactive planning remains critical. Here’s how your SME can leverage e-invoicing to streamline operations, reduce costs, and stay compliant. Phase 4 for taxpayer with revenue (in year 2023 and 2024) below RM500,000 a year and not exempted. Currently only taxpayer with revenue below RM150,000 are exempted, we looking forward relaxation by government to increase the exemption threshold to RM300,000 to benefit more MSME. Read more here Guidelines