E-Invoicing Unpacked: Why We Need It & Phase 1 Takeaways

The countdown to Phase 2 of Malaysia’s e-invoicing rollout is on, with businesses earning between RM25 million and RM100 million required to comply by January 1, 2025.

Following the implementation of Phase 1 in August 2024, a KPMG survey highlights businesses’ varying levels of readiness, with challenges like IT upgrades, manpower training, and system integration posing potential roadblocks. So, what can Phase 2 businesses learn from early adopters?

In this episode of Enterprise Explores, Dr. Veerinderjeet Singh, Senior Advisor on Tax Policy at KPMG Malaysia, unpacks the fundamentals of e-invoicing, key findings from KPMG’s survey, and key lessons and insights from Phase 1. We also discuss the role of e-invoicing in Malaysia’s broader push for digitalisation—enhancing compliance, reducing fraud, and modernising the nation’s tax ecosystem.