05/05/2024
𝐖𝐡𝐢𝐜𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐀𝐫𝐞 𝐍𝐨𝐭 𝐀𝐥𝐥𝐨𝐰𝐞𝐝 𝐭𝐨 𝐈𝐬𝐬𝐮𝐞 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐞𝐝 𝐞-𝐈𝐧𝐯𝐨𝐢𝐜𝐞𝐬 𝐔𝐧𝐝𝐞𝐫 𝐌𝐚𝐥𝐚𝐲𝐬𝐢𝐚'𝐬 𝐍𝐞𝐰 𝐏𝐨𝐥𝐢𝐜𝐲? 🌐📜
Starting from August 1st, all Malaysian businesses must switch to electronic invoices (e-invoices) to streamline operations. However, certain industries are not allowed to use Consolidated e-Invoices❗
❓𝙒𝙝𝙖𝙩'𝙨 𝙖 𝘾𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙚𝙙 𝙚-𝙄𝙣𝙫𝙤𝙞𝙘𝙚
It's when a seller combines unsent electronic invoices for sales within a period into one invoice, sent electronically to LHDN. For instance, if a customer doesn't need an electronic invoice, the seller issues a traditional one. Then, unsent sales records are consolidated and sent electronically within 7 days before the month ends to meet tax requirements.
However, 𝙣𝙤𝙩 𝙖𝙡𝙡 industries qualify for Consolidated e-Invoices. Specific ones may need separate invoices for each transaction. Malaysia's tax regulations prohibit these industries:
❎ Automotive
❎ Aviation
❎ Luxury Goods & Jewelry
❎ Construction
❎ Wholesale/Retail of Construction Materials
❎ Licensed Gambling/Betting Businesses & Agent Payments
❎ Payments to Dealers/Distributors
If your business falls into these categories, do stick to separate e-invoices for each transaction to avoid issues! For more information, contact us now! We offer reasonably priced, professional, and efficient tax services! ✨
☎️ https://wa.me/60178751213
✉️ [email protected]
👩💻 synergybiz.com.my