Malaysia e-invoicing initiative
The Inland Revenue Board of Malaysia (IRBM) is requiring all taxpayers to adopt e-invoicing by 2025. An e-invoice is a digital record of a transactional exchange between a seller and a buyer, processed in real-time through the government portal for validation and recordkeeping. Validated e-invoices will feature a Unique Identification Number (UIN) and a QR Code, generated by the MyInvois Portal, allowing for online validation of the invoice.
IRBM plans to implement e-invoicing gradually in phases to ensure a smooth transition. Below is the Malaysia e-invoice implementation timeline:
Source: Cleartax, Source: LHDN
RBA publishes chemical management due diligence guide
The Responsible Business Alliance (RBA) has published a Practical Guide to Chemical Management Due Diligence in Supply Chains. This guide aims to establish a shared understanding of best practices for protecting workers’ health and the environment. It provides a standardized, risk-based due diligence template for facilities to manage chemical risks effectively. The guide leverages the RBA’s expertise in creating supply chain due diligence tools, facilitating member companies in risk identification, management, mitigation, and reporting. It incorporates insights from RBA members, intergovernmental organizations, worker organizations, industry associations, and leading multi-stakeholder chemical stewardship initiatives.
Protecting workers and the environment from chemical management risks has been a core component of the RBA Code since its inception in 2004.
The RBA Practical Guide to Chemical Management Due Diligence in Supply Chains is publicly available here.
Private sector must follow new wage standards as per Progressive Wage Policy
The government mandates a minimum wage for private sector employers under the Progressive Wage Policy (PWP)
The pilot project targets five economic sectors: manufacturing, construction, information and communication, professional scientific and technical activities, and wholesale and retail trade (including motor vehicle and motorcycle repair). Employers in the manufacturing sector can select up to 200 workers, while those in other sectors may select up to 100 workers for participation.
Eligible employees must be semi-skilled or skilled, with a monthly basic salary ranging from RM1,500 to RM4,999. Elementary workers, managers, government-linked companies, and multinational companies are not eligible for the PWP.
For entry-level employees within the PWP salary range, employers will receive an incentive of up to RM200 per month for 12 months per employee. For non-entry-level employees (those employed for over a year), the incentive is up to RM300 per month for 12 months. Employers are expected to match or exceed this amount in salary increases.
Registration for the pilot project, started on May 15 and will remain open until August 31, 2024.
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