e-Invoice implementation for Insurance and Takaful Industry

Following the Inland Revenue Board of Malaysia's ("IRBM") announcement in October 2023 on the implementation of e-Invoicing in Malaysia, Tokio Marine Life Insurance Malaysia Bhd. (“TMLM”, “it”, “we” or “us”) wishes to advise that we will be implementing ​e-Invoicing from 1 August 2024.​

The e-Invoice system will be rolled out in stages and aims to transition from traditional paper-based invoicing to digital e-Invoices, supporting the government’s drive to foster a digital economy and streamline tax administration processes.​

However, please be informed that the members of the Insurance Industry Associations (i.e. LIAM, PIAM, MTA), including TMLM, are granted a transitional period by IRBM until 1 July 2025. During this time, TMLM is required to submit consolidated data basis, with no mandate to issue individual e-Invoices to customers.​

As a result, e-Invoice documents will NOT be available to customers within this period.​

Effective next year, 1 July 2025 , the industry will be required to fully rollout the e-Invoice initiative. All business policies and Keyman policies will be issued with e-Invoices. Individual policyholders who wish to receive e-Invoices are required to opt-in with the Company.​

Thank you in advance for your continued support and understanding.​

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