7,400 Malaysian companies adopt e-invoicing system since August 2024 to enhance tax compliance by January 2025.

As of October 14, 2024, Malaysia's Ministry of Finance reports that 7,400 companies have adopted the e-invoicing system, issuing 58 million e-invoices since its launch on August 1, 2024. The initiative aims to enhance tax compliance and reduce tax evasion. The second phase will start on January 1, 2025, targeting mid-sized companies, with full implementation for all businesses set for July 1, 2025. A new platform is being developed to assist with Tax Identification Number verification.

October 23, 2024
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