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Whether you are a business owner or an employee, you might be wondering about the new e-Invoice system and how it impacts you. It’s crucial to know that, according to the Inland Revenue Board of Malaysia, e-Invoicing will affect ALL taxpayers involved in commercial activities in Malaysia.
So don’t wait — this change is coming, and it’s essential to be prepared!
Avoid the delay! While it might seem complex and expensive, our solution offers a simpler, more affordable approach. Let us handle the entire e-invoicing process from start to finish.
Our E-Invoicing Services are available to clients throughout Malaysia.
Note: Although those with annual sales below RM150,000 are not obligated to issue e-invoices. However, the government actively encourages participation in the e-invoicing initiative. Notably, the government has granted Micro, Small, and Medium Enterprises (MSMEs) the ability to issue consolidated e-invoices—a digital receipt format that combines all sales transactions on a monthly basis. These consolidated e-invoices need to be submitted to the Inland Revenue Board (LHDN) within the initial seven days of each month.
The simplified answer is that an E-Invoice submitted to the MyInvois portal must contain the following essential information:
Name, business registration number, address and tax identification number (TIN) of the seller or service provider.
Name, business registration number (if applicable), address, and TIN of the buyer or customer.
A unique and sequential invoice number for easy reference and tracking.
The date on which the invoice is generated.
A detailed description of the goods or services provided, including quantities, unit prices, and any discounts applied.
The total amount payable by the buyer, including the breakdown of taxes and any discounts applied.
Applicable taxes, such as SST, along with the tax rates and amounts.
Terms of payment, including the payment due date and accepted payment methods.
As part of Malaysia’s e-invoicing regulations, e-invoices need to include a QR code for easy verification by tax authorities.
A digital signature or electronic authentication required to confirm the authenticity of the invoice.
Note: For manual submission of e-invoices through the MyInvois portal, there are up to 53 compulsory fields that need to be filled out. These fields are required by the Malaysian Inland Revenue Board (LHDN) to ensure proper validation of the e-invoices.
At Webnacc Business Solution, we know that integrating or switching to an e-invoicing system can seem overwhelming. That’s why we are here to make the process as smooth and easy as possible for you. Our range of e-invoicing services is designed to fit your business needs perfectly, ensuring you get the most out of this new system.
Here’s how we can help:
Our team will thoroughly evaluate your current invoicing processes and systems to identify gaps and requirements for e-invoicing compliance. We provide a roadmap to ensure a smooth transition, minimizing disruptions to your business operations.
Our team will propose and set up the e-invoicing software that meets the regulatory standards and your specific business needs. We ensure that the software is user-friendly and functional, ready to simplify your e-invoicing.
We understand that every business is unique. Our customization and development services tailor e-invoicing solutions to fit your specific business processes and requirements, ensuring optimal performance and compliance.
We offer simple training sessions for your staff to ensure they understand and can effectively use the new e-invoicing system. Our support team is always available to assist with any questions or issues that may arise.
Stay ahead of regulatory changes with our compliance management services. We ensure that your e-invoicing system complies with local regulations, including real-time validation with tax authorities.
Our data migration services ensure a smooth transition of your existing invoicing data to the new e-invoicing system. We handle the entire process, ensuring data integrity and minimal disruption to your operations.
We provide continuous support, maintenance, and updates to keep your e-invoicing system running smoothly and compliant with any new regulations. Our proactive approach ensures that your system is always up-to-date and functioning optimally.
Yes, you read that right, starting from just five ringgit…
Simplify your e-invoicing implementation and process.
Ready to get started? Get in touch with us now and let us lead you through a seamless e-invoicing transition!
Don’t let e-invoicing questions or issues hold you back.
Let’s schedule a consultation and find the perfect solution for you.
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