Dear Valued Customers,
As announced by the Malaysian Government, e-Invoice will be implemented in stages. The first phase of the e-Invoice implementation in Malaysia begins on 1 August 2024, for business entities with a turnover exceeding RM100 million. This covers a wide range of industries including the Life Insurance and Takaful industry.
The Inland Revenue Board of Malaysia (LHDN) has announced a 6-month concession starting from 1 August 2024 to allow Taxpayers (including MCIS Life) to issue consolidated e-Invoices for all their income and they are not required to issue validated e-Invoices to customers for individual transactions in relation to their products and services. As such, customers will continue to receive invoices and life insurance premium statements in the existing format until 31 January 2025, subject to change. Please note that at this juncture, there is no requirement for the businesses/ individuals to obtain validated e-invoices from MCIS Life for income tax deduction/ relief purposes.
To facilitate the smooth transition to e-Invoicing and to ensure compliance with LHDN’s requirements, we kindly request your cooperation to promptly updating your profile with us, including to provide your email address, Tax Identification Number (TIN), latest Business Registration Number (BRN) and Sales & Service Tax (SST) Number (if applicable) as and when such requests are made by us.
For any enquiries, please reach out to Customer Contact Centre at +603-7652 3388 or email us at customerservice@mcis.my.
Thanking you in advance for your continuous support and understanding.
Yours Sincerely,
MCIS Insurance Berhad