Read our insights

Updated e-Invoice Guidelines and General FAQs : 28 January 2025

Under the new requirements of MFRS 18, items of income and expense are not classified based on their own nature, but rather they are classified based on the nature of the asset, liability or transaction from which they are derived.

Under the new requirements of MFRS 18, items of income and expense are not classified based on their own nature, but rather they are classified based on the nature of the asset, liability or transaction from which they are derived.

Entities should begin preparing for MFRS 18 ‘Presentation and Disclosure in Financial Statements’ sooner rather than later. Changes from MFRS 101 ‘Presentation of Financial Statements’ could have a significant impact on the financial statements.

Updated Budget Adviser 2025

Budget Adviser 2025

The e-Invoice Rules [Income Tax (Issuance Of Electronic Invoice) Rules 2024] was released by the Ministry of Finance (MOF) on 1 October 2024 while both of the e-Invoice Guidelines (e-Invoice Guideline Version 4.0 and e-Invoice Specific Guideline Version 3.1) and e-Invoice General Frequently Asked Questions (FAQs) were updated by the Inland Revenue Board of Malaysia (IRBM) on 4 October 2024.

Malaysia’s Approach on Sustainability Reporting – IFRS S1 and S2

The Malaysian Accounting Standards Board (MASB) has released amendments to MFRS 9 (equivalent to IFRS 9) ‘Financial Instruments’ and MFRS 7 (equivalent to IFRS 7) ‘Financial Instruments: Disclosures’, following a post-implementation review (PIR) of MFRS 9 completed by International Accounting Standard Board (IASB). The amendments also include consequential changes to MFRS 19 (equivalent to IFRS 19) ‘Subsidiaries without Public Accountability: Disclosures’ to reflect the amendments made to MFRS 7.

Going Public: Transforming and creating value through IPO

Six-month interim relaxation period to issue consolidated e-invoice and the release of batch upload template and function

The updatede-Invoice General Frequently Asked Questions (FAQs) and both e-Invoice guidelines (e-Invoice Guideline Version 3.2 ande-Invoice Specific Guideline Version 3.0) were updated by the Inland Revenue Board of Malaysia (IRBM) on 19 July 2024 and 30 July 2024.

On 14 June 2024 the Malaysian Accounting Standards Board (MASB) published a new standard; The new standard, MFRS 18 ‘Presentation and Disclosure in Financial Statements’ (the Standard) replaces MFRS 101 ‘Presentation of Financial Statements’ and will impact every reporting entity that currently uses International Financial Reporting Standards (MFRS).

The updated e-Invoice Software Development Kit (SDK) (1.0) and the updated e-Invoice guidelines (e-Invoice Guideline Version 2.3 and e-Invoice Specific Guideline Version 2.1) was published by the Inland Revenue Board of Malaysia (IRBM) on 6 April 2024.

This article examines the scope of the Standard and considers situations where a contract issued by a non-insurance entity may fall within that scope.

This article focuses on share-based payments directly between the reporting entity and a counterparty.