E-Invoicing in Malaysia - VeecoTech Solutions
E-Invoicing2024-07-09T09:33:08+08:00
  • VeecoTech E-Invoicing Middleware Solution featured Image

Is Your Organisation Ready to Embrace the Malaysian E-invoicing Mandate?

Find the Ideal E-Invoicing Middleware Solution for You

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Introduction

What is E-Invoicing in Malaysia?

E-invoicing in Malaysia is the government’s initiative to switch from traditional paper invoices to a digital format. Impacting all industries and departments such as sales, purchasing HR, operations finance and accounting.

With the goal of improving tax administration efficiency and streamlining business processes, E-invoices will be used for all transactions,

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Business-to-business
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Business-to-consumer
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Business-to-government

No E-Invoicing = No Tax Deduction

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Guidelines & Timeframe

Phase 1 (>100MIL)

August 1st 2024

Taxpayers with an annual turnover or revenue of more than RM100 million.

Phase 2 (>25MIL)

January 1st 2025

Taxpayers with an annual turnover or revenue of more than RM25 million and up to RM100 million.

Phase 3 (>All)

July 1st 2025

All taxpayers and certain non-business transactions.

Our E-invoicing Middleware:

Go Invoice

VeecoTech’s e-invoicing middleware solution is designed to streamline your invoicing process, ensuring efficiency, reliability, and compliance, seamlessly integrated with the Inland Revenue Board of Malaysia (LHDN).

01

Intelligent Retry Mechanism

This mechanism as a bridge between your ERP system and LHDN. If the initial attempt to connect with LHDN fails due to temporary issues, the system automatically retries, ensuring your invoices are submitted without manual intervention.

02

100% LHDN Compliance

Stay up-to-date with regulatory changes automatically, as our system is regularly updated to reflect new compliance standards by the dedicated team at VeecoTech.

03

User-Friendly Login Interface

Ensuring our system is simple for users to access and manage their invoicing tasks is key with a user-friendly interface designed for users of any skill level to easily navigate and use.

04

LHDN Recommended Invoice Format

Easily download invoices in the LHDN recommended format directly from our system, consisting of all 55 required fields.

05

Authorized Digital Certificate & Signature

Working with MDEC-appointed Licensed Certification Authority, the system ensures every invoice submitted consists of a compulsory unique digital signature.

06

Integration with your ERP system

VeecoTech’s e-invoicing middleware seamlessly integrates with your existing ERP systems, synchronizing invoicing data, enhancing operational efficiency, and maintaining accurate financial records.

07

Reporting

Our comprehensive reporting capabilities provide you with detailed insights into your invoicing operations.

Let’s Get Started

What about directly integrating my ERP System with MyInvois?

API enables direct transmission of data between your ERP or business accounting system and the Inland Revenue Board of Malaysia (IRBM’s) MyInvois System for e-invoice validation which is what a middleware is. But another option is to directly integrate your existing ERP system with the Inland Revenue Board of Malaysia (IRBM’s) MyInvois System but it might not be the best option as it requires

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IT Maintenance Team

Necessitates an in-house IT or technology team to modify the ERP/business system to meet IRBM’s requirements

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Ongoing Maintenance Cost

Ongoing enhancements will be required for evolving IRBM standards, resulting in high maintenance costs from repeated system development expenses

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Licensed Certification Authority Fees

Each invoice sent MUST include a digital signature, which can ONLY be obtained through a Licensed Certification Authority (typically involving an annual subscription fee)

Workflow

Why Choose VeecoTech ?

As an MDEC-appointed Digital Partner with MSC Status, VeecoTech has had many opportunities to work on government projects & with government bodies. This experienced Malaysian team has been developing digital systems since 2011.

B-BRAUN
B-BRAUN
Deloitte
Deloitte
JABIL
JABIL
MBSP
MBSP
MCMC
MCMC
Tenaga Nasional
Tenaga Nasional
FAQ

Frequently Asked Questions

We’ve categorised 3 mechanisms to transmit e-Invoices to IRB’s database, which are as follows:

  • MyInvois Portal (a free solution/portal hosted by IRBM)
  • Application Programming Interface (API)
  • Middleware

However, all 3 methods will ultimately require some form of effort or cost to maintain. Read More here.

Invoice
Credit Note
Debit Note
Refund
  • Ruler and Ruling Chief
  • Former Ruler and Ruling Chief
  • Consort of a Ruler of a State having the title of Raja Perempuan, Sultanah, Tengku Ampuan, Raja Permaisuri, Tengku Permaisuri or Permaisuri
  • Consort of a Former Ruler of a State previously having the title of Raja Perempuan, Sultanah, Tengku Ampuan, Raja Permaisuri, Tengku Permaisuri or Permaisuri
  • Government
  • Government Authority
  • Local authority
  • Facilities provided by the above government, authority or body (e.g., hospital, clinic, multipurpose hall, etc.)
  • Consular offices and diplomatic officers, consular officers and consular employees

Suppliers who provide goods or services to the persons listed above are still required to issue e-invoices

Any entities (eg, companies, limited liability partnership, etc.) owned by the above- mentioned persons would still be required to implement e-Invoice

  • Employment income
  • Pension
  • Alimony
  • Distribution of dividend in specific circumstances (Refer to Section 11 of e-invoicing specific guidelines for more details)
  • Zekat

Grants Available NOW for your Business

E-Trade Programme RM 20,000

MATRADE is reimbursing your Digital Marketing expenses!

Best suited for:
Manufacturing & Trading Companies

Find out more

NCER CoE Grant RM 100K

Calling companies THE opportunity to automate your business is now!

Best suited for:
E&E, AgriTech, MediTech & more

Find out more

Grants are subject to fund availability so SIGN UP NOW! T&C Apply