{"id":12827,"date":"2024-12-19T16:44:38","date_gmt":"2024-12-19T08:44:38","guid":{"rendered":"https:\/\/link4.asia\/my\/?p=12827"},"modified":"2025-03-21T08:34:25","modified_gmt":"2025-03-21T00:34:25","slug":"e-invoicing-momentum-builds-as-january-2025-phase-2-deadline-looms","status":"publish","type":"post","link":"https:\/\/link4.asia\/my\/news\/e-invoicing-momentum-builds-as-january-2025-phase-2-deadline-looms\/","title":{"rendered":"e-Invoicing Momentum Builds as January 2025 Phase 2 Deadline Looms"},"content":{"rendered":"\n
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\"e-Invoicing<\/figure>\n\n\n\n
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Malaysia\u2019s e-Invoicing journey is set to enter its second phase, with companies earning between RM25 million and RM100 million annually mandated to implement e-Invoicing from January 1, 2025.<\/p>\n\n\n\n

While many businesses have already embraced this innovation, the time to act is now, as delays could lead to non-compliance, difficulty finding the right solution, or discovering additional processes and tools are required\u2014issues that can significantly disrupt operations if left too late.<\/p>\n\n\n\n

To support the transition, LHDN announced a six-month grace period effective August 1, 2024. During this time, taxpayers can issue consolidated e-Invoices for all transactions, allowing businesses a smoother shift as they fully adopt the mandatory e-Invoicing system.<\/p>\n\n\n\n

Furthermore, in the Malaysia 2025 budget, to encourage e-Invoicing adoption, tax incentives were introduced, including an Accelerated Capital Allowance for expenses such as ICT equipment, computer software packages, and consulting fees. Businesses can claim these benefits within two years, spanning 2024 to 2025.<\/p>\n\n\n\n

Malaysia\u2019s e-Invoicing system has seen significant growth, with 107.5 million e-invoices from taxpayers since the system was implemented on August 1st, as reported by the Inland Revenue Board (LHDN). . These figures highlight the operational efficiency and transparency that e-Invoicing offers to businesses ready to adapt.<\/p>\n\n\n\n

\u201cBusiness leaders need to step up and recognize the hidden advantages of adopting a Peppol-based e-Invoicing system,\u201d stated Robin Sands, CEO of Link4. \u201cThis isn\u2019t just about compliance; it\u2019s about how businesses operate\u2014improved cash flow, reducing payment delays, and building stronger supplier partnerships.\u201d<\/p>\n\n\n\n

Faster adoption of Peppol-based e-Invoicing provides companies with a competitive edge. Early adopters can streamline processes, minimize human error, and gain better visibility into their financial operations. Conversely, delaying adoption risks non-compliance penalties, operational disruptions, and missed opportunities for cost savings that could enhance profitability.<\/p>\n\n\n\n

Sands emphasized, \u201cThe Peppol framework offers a globally recognized standard, which simplifies cross-border transactions and eliminates inefficiencies in invoicing processes. By adopting it now, Malaysian businesses can position themselves as leaders in digital transformation, preparing for a future where seamless transactions are a baseline expectation.\u201d
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About Link4:<\/strong><\/p>\n\n\n\n

Link4 provides e-Invoicing Access Point services under the Peppol Framework and is an approved Peppol Access Point in South-East Asia. Link4 offers comprehensive e-Invoicing solutions for businesses, facilitating seamless invoicing processes and fostering stronger trading partner relations.<\/p>\n\n\n\n

For more information on LinkFor e-Invoicing: https:\/\/link4.asia\/my\/<\/a><\/p>\n\n\n\n

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Media Contact Link4:<\/h5>\n\n\n\n

Kasun Illankoon \u2013 PR Specialist
kithzk@link4.co<\/p>\n\n\n\n

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Find out more about e-Invoicing<\/h5>\n\n\n