An e-Invoice is a digital representation of a transaction between a supplier and a buyer. e-Invoice replaces paper or electronic documents such as invoices, credit notes, and debit notes.
An e-Invoice contains the same essential information as a traditional document, for example, supplier’s and buyer’s details, item description, quantity, price excluding tax, tax, and total amount, which records transaction data for daily business operations.
e-Invoice will be implemented in phases to ensure a smooth transition. The roll-out of e-Invoice has been planned carefully, considering the turnover or revenue thresholds, to provide businesses with sufficient time to adapt.
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