6-month soft launch until February 2025

On 26 July 2024, LHDN granted a 6-month soft landing for its 1st August 2024 MyInvois live e-invoicing mandate. Taxpayers in the first wave (turnover above MYR 100m) will not be obliged to pre-clear their invoices from 1 August 2024.  Instead, they may use current invoice formats and digitally report the transactions in a single consolidated submission by the 7th of the following month. This means the first digital transaction reporting deadline will be 7th September 2024. This optional post invoice issuance digital reporting phase will end 1 February 2025 when the penalty regime for not reporting live via MyInvois will be imposed.

Taxpayers that voluntarily start using MyInvois live reporting from 1 August will be entitled to accelerated capital allcowances on related IT spend.

This period of flexibility is expected to give a space of time sufficient for taxpayers to ensure the implementation of e-Invoicing fully which is more effective covering all aspects such as system availability, smooth business operations and change management in business.