In a groundbreaking move, the Malaysian Government has officially announced the phased implementation of electronic invoicing (e-Invoicing) in the country, marking a significant shift in the way businesses handle transactions. This transformative initiative encompasses various transaction types, including B2B, B2C, and B2G, with a focus on streamlining processes and enhancing efficiency.

Key Dates for E-Invoicing Implementation:

• August 1, 2024: Rollout begins for taxpayers with an annual turnover of MYR 100 million and above.
• January 1, 2025: Implementation extends to taxpayers with an annual turnover ranging between MYR 25 million and MYR 100 million.
• July 1, 2025: All other taxpayers are required to adopt e-Invoicing.

Unlock Benefits with MSEM Matching Grant:

To facilitate this transition, businesses have the opportunity to claim the MSEM matching grant of up to RM5,000 by subscribing to YGL software. This matching grant aims to support companies in adapting to the new e-Invoicing system seamlessly.

Consequences of Non-Compliance:

It is crucial for businesses to note that, without proper implementation, failure to adopt e-Invoicing may result in penalties. The repercussions include fines ranging from RM200 to RM20,000 or imprisonment for up to six months, or a combination of both. Non-compliance could lead to significant financial consequences and legal actions.

Secure Your Matching Grant Today:

To help businesses navigate this transition, YGL is offering information on matching grants. Act quickly, as grants are limited and allocated on a first-come, first-served basis.

Why Choose YGL for Your E-Invoicing Needs?

YGL stands out as a leading provider for E-Invoicing solutions with numerous benefits:

• Over 100 dedicated support staff with a strong focus on Malaysia.
• R&D teams based in Penang and Hong Kong, China.
• YGL is the approved main supplier of Industry 4.0 solutions in Malaysia under the Ministry of International Trade & Industry (MITI).
• Collaboration with SMEs to educate on Smart Manufacturing and Smart Warehouse.
• Proven track record with successful implementations in over 100 companies.
• Ownership of Intellectual Property rights, demonstrating a long-term commitment to customers.

Join the E-Invoicing Revolution with YGL!

Don’t miss the chance to be at the forefront of the e-Invoicing revolution in Malaysia. Sign up now to access crucial information and secure your MSEM matching grant. YGL is your trusted partner for a seamless transition towards enhanced efficiency and compliance.