Implementation of E-Invoice for Manulife Insurance Labuan Limited

In October 2023, the Inland Revenue Board of Malaysia (IRB) announced the phased implementation of e-invoicing, set to begin on August 1, 2024. E-invoicing is a digital system that allows businesses to electronically transmit invoices to the IRB. This initiative aligns with the Government’s objective to enhance digital services infrastructure and modernize tax administration. This new system will apply to all taxpayers involved in commercial activities within Malaysia, including those supplying goods and services.

Implementation for Manulife Insurance Labuan Limited (MILL)

For Manulife Insurance Labuan Limited (MILL), the implementation phase will start on January 1, 2025. To ensure a smooth transition to e-Invoicing, the IRB has granted a six-month interim relaxation period from this date. During this period, Manulife Insurance Labuan Limited will use a consolidated e-Invoice and consolidated self-billed e-Invoice approach. Therefore, no individual e-Invoices or individual self-billed e-Invoices will be issued during this interim period or until further notice.

Information from Suppliers and Customers

The e-invoicing process will require specific mandatory information from Manulife’s suppliers and customers. We will be reaching out to you soon to collect these details. For more information about e-invoicing, please visit the IRB e-Invoice FAQ page.

For further details, please refer to item 16 of the IRB e-Invoice Specific Guideline version 3.1 dated October 4^th, 2024: IRBM e-Invoice Specific Guideline (Version 3.1).

Thank you.