Malaysia is strengthening its role in the global digital economy with the launch of its e-Invoicing initiative, a significant step toward accelerating digital transformation in the country. Deputy Minister of Digital Datuk Wilson Ugak Kumbong highlighted that e-Invoicing marks a pivotal shift towards improved efficiency, transparency, and compliance in business operations, while enhancing cross-border trade capabilities.
“Adopting e-Invoicing strategically enables businesses to not only adapt to future trends but to actively shape them, unlocking new avenues for growth and innovation on the global stage,” he stated. “This initiative is part of a broader vision to empower businesses, making them more efficient, transparent, and resilient for the future.”
E-Invoicing transforms the traditional approach to invoicing and tax reporting by providing an automated solution that reduces errors and speeds up transactions. “This transition improves business processes, reduces operational errors, and frees up resources, allowing businesses to concentrate on their core objectives—growth and innovation,” added Datuk Wilson.
Addressing delegates at the E-Invoicing Exchange Summit 2024 in Kuala Lumpur, Datuk Wilson emphasized that while the initial phase of implementing such a transformative system can be challenging, it is ultimately rewarding. “This shift is not just about technology, but a mindset change in how we approach digital operations,” he remarked.
The summit, organized by Vereon AG and supported by the Malaysia Digital Economy Corporation (MDEC), also saw contributions from industry leaders, including MDEC CEO Anuar Fariz Fadzil, Vereon AG CEO Johannes Von Mulert, and OpenPeppol Secretary General Andre Hoddevik.
As Malaysia’s Peppol Authority, MDEC leads the National e-Invoicing Initiative, which is aligned with key national blueprints, including the 12th Malaysian Plan (RMK-12), Malaysia Digital Economy Blueprint (MyDigital), and the National e-Commerce Strategic Roadmap. Anuar Fariz Fadzil noted that Malaysia’s approach to e-Invoicing is in line with international standards, and that partnerships with service providers, businesses, and the Inland Revenue Board (IRBM) have ensured smooth implementation and compliance with tax regulations.
He further stated that Malaysia is now ranked among the top five countries globally in terms of Peppol membership. This ranking underscores the growth of local e-Invoicing service providers and the nation’s dedication to creating a competitive e-Invoicing ecosystem worldwide. “Peppol enables seamless interoperability between diverse e-Invoicing systems globally, particularly benefiting businesses engaged in international trade,” explained Anuar.
The summit, hosted for the first time in Malaysia, demonstrated the country’s commitment to driving digital transformation and fostering international collaboration in e-Invoicing systems. It brought together policymakers, industry experts, and business leaders from around the world to discuss the future of digital trade and the role of interoperable e-Invoicing systems in streamlining global commerce.
