Digital Certificates in e-Invoicing: Ensuring Authenticity, Integrity, and Non-Repudiation
Digital certificates play a crucial role in the e-invoicing process, ensuring electronic invoices’ authenticity, integrity, and non-repudiation. Here’s an overview of digital certificates and their functions in the context of e-invoicing: 1. What is a digital certificate? A digital certificate is an electronic document that binds an entity’s (individual or organization) identity to a public […]
Income Tax (Exemption) (No. 7) Order 2021 (Amendment) Order 2024
The Income Tax (Exemption) (No. 7) Order 2021 [P.U. (A) 283/2021] was amended by the Income Tax (Exemption) (No. 7) Order 2021 (Amendment) Order 2024 [P.U. (A) 108/2024]. The amendment order was made on 8 March 2024 and has effect from the year of assessment 2024. The key changes introduced by the amendment order are: […]
Income Tax (Exemption) (No. 8) Order 2021 (Amendment) Order 2024
The Income Tax (Exemption) (No. 8) Order 2021 [P.U. (A) 284/2021] was amended by the Income Tax (Exemption) (No. 8) Order 2021 (Amendment) Order 2024 [P.U. (A) 109/2024]. The amendment order was made on 8 March 2024 and has effect from the year of assessment 2024. The key changes introduced by the amendment order are: […]
Income Tax (Exemption) (No. 5) Order 2021 (Amendment) Order 2024
The Income Tax (Exemption) (No. 5) Order 2021 [P.U. (A) 209/2021] was amended by the Income Tax (Exemption) (No. 5) Order 2021 (Amendment) Order 2024 [P.U. (A) 106/2024]. The amendment order was made on 2 April 2024. The key change introduced by the amendment order is the extension of the exemption period for qualifying companies […]
Income Tax (Exemption) (No. 6) Order 2021 (Amendment) Order 2024
The Income Tax (Exemption) (No. 6) Order 2021 [P.U. (A) 282/2021] was amended by the Income Tax (Exemption) (No. 6) Order 2021 (Amendment) Order 2024 [P.U. (A) 107/2024]. The amendment order was made on 8 March 2024 and has effect from the year of assessment 2024. The key changes introduced by the amendment order are: […]
Updated Food and Beverage Guidelines (16 April 2024)
The Service Tax reintroduced on 1 September 2018, is a consumption tax administered under the Service Tax Act 2018 and its subsidiary legislation. Service tax is imposed on prescribed services known as “taxable services”. A person who provides taxable services exceeding a specified threshold of taxable service value must register under the Service Tax Act […]
Attention Wholesalers and Retailers of Construction Materials!
Are you selling Precast Concrete Masonry Units (cement bricks)? If yes, then this is a must-read for you! As per the latest e-Invoice Specific Guideline (Version 2.1) issued by the Inland Revenue Board of Malaysia (IRBM), wholesalers and retailers dealing in construction materials, including cement bricks, are required to issue e-Invoices for every single transaction. […]
What are the e-Invoice Treatments for Directors’ Fees?
The e-Invoicing Guidelines in Malaysia are a comprehensive framework designed to modernise and streamline the invoicing process across various transactions, enhancing efficiency and tax compliance. The guidelines cover myriad transactions and touch upon the specific income types exempted from the e-invoicing system. For directors who have entered into a contract for services with a company, […]
If the supplier rejects the buyer’s request within 72 hours, does this mean the e-invoice will become a valid e-invoice after 72 hours?
Referring to Section 2.4.5 of the e-Invoice Guideline Version 2.3: “If the Supplier did not accept the request for rejection initiated by the Buyer (or did not proceed to cancel the said e-Invoice), no cancellation would be allowed after the 72 hours have elapsed. Any amendment thereon would require issuing a new e-invoice (e.g., credit […]
e-Invoice Guideline Version 2.3 – Enhancing Clarity in Batch Submission: Transition from “Batch Generation” to “Batch Upload”
2.3.2 Step 1 – Creation and Submission The change from “Batch Generation” to “Batch Upload” and from “defined layout file” to “pre-defined Microsoft Excel spreadsheet” in section 2.3.2 is likely to provide more clarity and specificity on the batch submission process via the MyInvois Portal. 📌 Batch Generation: ✅ This term is a bit vague and […]
