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 with buyers, disbursement and reimbursement, API overview, cybersecurity, currency exchange rate, cross-border transactions, self-billing, and others.
Additional documentation was also published, namely an e-invoicing Data Catalogue, which provides for the codes and elements allowed in the e-invoice on certain fields such as MSIC codes, e-invoice type, invoice currency, frequency of billing, classification, tax type, payment node and country of origin.
This ensures the continue preparations for the Malaysian CTC e-invoicing system, which will become mandatory for large taxpayers starting June 2024.
