Malaysia: Updates Published to e-Invoicing Documentation
The Inland Revenue Board of Malaysia has released new versions of the e-invoice and e-invoice specific guidelines, alongside a new version of the Software Development
Region: Asia Pacific
Malaysia: Services Tax Rate Increase to 8% from March 1, 2024
Pursuant to the Service Tax (Rate of Tax) (Amendment) Order 2024, effective 1 March 2024, the service tax rate is increased from 6% to 8%
Malaysia E-Invoicing
Malaysia CTC e-invoice Reporting: From August 2024, e-invoicing in Malaysia will become mandatory for taxpayers with an annual turnover or revenue of more than RM100
Malaysia: MDEC Has Released PINT Specifications
Alongside the developments of the CTC e-invoice reporting mandate in Malaysia, the Malaysia Digital Economy Corporation (MDEC) has become the Peppol Authority in the country.
Malaysia: Technical guidelines for e-invoicing system released
The Inland Revenue Board of Malaysia (IRBM) has just released the long-awaited Software Development Kit, which includes relevant technical documentation for the CTC mandate to
Malaysia: Pilot Phase starting in May 2024
Malaysia is implementing a CTC clearance model starting in August 2024 for large taxpayers undertaking commercial activities in the country. Following recent postponements of the
Malaysia: Sales Tax on Low Value Goods from January 1, 2024
The Royal Malaysian Customs Department announced that cross-border sales of goods valued at MYR500 or less are subject to 10% sales tax when sold to
Vietnam: Extension of Temporary 8% Standard VAT Rate Reduction until June 30, 2024
Pursuant to Decree 94/2023/ND-CP as published on December 28, 2023, supplies of goods and services subject to the standard 10% VAT rate will continue to
China: last province added in the Pilot Program
Following the recent developments in China regarding the Pilot Program for e-Invoicing, whereby the program has been expanded to new provinces and cities in November
Bahrain: E-invoicing without prior approval from tax authority
The National Bureau for Revenue (NBR) released an updated edition of the Value Added Tax (VAT) General Guide in November 2023. A VAT-registered individual or
Singapore: Standard GST Rate Increase to 9% from January 1, 2024
Pursuant to Goods and Services Tax (Amendment) Bill No. 30/2022, the standard GST rate in Singapore is increasing to 9% effective January 1, 2024. The
Saudi Arabia: New taxpayer group in scope of Phase 2 of e-invoicing announced
The Saudi Arabian Tax and Customs Authority, ZATCA, announced the ninth wave of Phase 2 of e-invoicing. The ninth wave covers taxpayers with at least
China: expansion of the e-fapiao pilot program
The Pilot Program for issuing fully digitized electronic invoices (e-fapiao) has been expanded to the new provinces and cities: Anhui, Beijing, Guizhou, Hunan, Ningxia, Qinghai
Singapore: Mandatory e-invoicing based on Peppol
In the Forum of Tax Administration held in October 2023 in Singapore, the government confirmed they will adopt InvoiceNow, the national e-invoicing framework based on
Israel: Updated timeline of invoice clearance model
Israel is implementing a Continuous Transaction Controls (CTC) regime which was initially scheduled to roll out on January 1, 2024. On October 23, 2023, the
Malaysia: New timeline for mandatory e-invoicing
The Malaysian 2024 Budget, which is currently pending parliamentary approval, introduces changes to the implementation timeline of mandatory e-invoicing in the country. According to the
Oman: Tax authority plans to launch e-invoicing in 2024
Sultanate of Oman Tax Authority has announced the launch of a VAT e-invoicing system within 2024. The e-invoicing system will be rolled out voluntarily in
Malaysia: Updated and new documentation are published
The Malaysia Inland Revenue Board has published updated e-invoicing guidelines, which are now on version 2.0. The update includes details on new topics, namely transactions