An e-invoice is generated and transmitted electronically in a standardized format, while a digital invoice can be any invoice created and stored digitally, irrespective of its transmission method. E-invoices are more structured and easily integrate with accounting systems for automated processing and real-time tracking.

This government-led initiative, driven by the IRBM, aims to encourage e-invoicing adoption among businesses. It focuses on enhancing efficiency, improving tax compliance, promoting the digital economy, facilitating business-to-government transactions, and supporting SMEs. It involves developing guidelines, standards, and a centralized e-invoicing platform (MyInvois Portal) for creating, submitting, validating, and storing e-invoices.

Benefits include increased efficiency, cost savings, improved accuracy, faster payment cycles, integration with digital systems, improved traceability and transparency, enhanced supplier-customer relationships, regulatory compliance, real-time tracking and reporting, and valuable data analytics and insights

Yes, starting from 2024, e-invoicing will be mandatory for businesses in Malaysia. This is part of a phased introduction to streamline business operations and enhance efficiency. The implementation will be based on annual turnover or revenue thresholds from 1 August 2024 onwards.

PEPPOL, the Pan-European Public Procurement Online, is an international network and a protocol established to facilitate the exchange of business-critical electronic documents securely.

Originally developed as an EU standard, PEPPOL enables companies to send invoices, orders, confirmations, catalogues, and other business documents seamlessly across borders directly to the vendor party system and software. While its primary focus is on e-invoicing, PEPPOL serves as a broader platform for cross-border procurement processes.