Delivering Measurable Value and Driving Best Practice

Understanding E-Invoice in Malaysia

E-Invoicing in Malaysia serves as a digital confirmation of a transaction between a seller and a buyer, eliminating the need for traditional paper or electronic documents like invoices, credit notes, and debit notes.

E-Invoicing caters to a variety of transactions including Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Government (B2G) dealings. In B2C transactions, sellers are not obligated to issue e-invoices to end consumers; instead, they should provide a customary invoice or receipt. Subsequently, within a specified timeframe, sellers are required to consolidate all standard invoices or receipts and issue a unified e-Invoice.

Taxpayers are offered the freedom to select the ideal method for transmitting their e-Invoices to the Inland Revenue Board of Malaysia (IRBM) that aligns with their specific business needs and individual circumstances, thus facilitating a smooth transition to e-Invoice.

To accommodate the varied requirements of taxpayers, there are two options to choose from when it comes to selecting e-Invoice transmission mechanisms; MyInvois Portal by IRBM or using API.

With API –

• This is designed for larger taxpayers or businesses dealing with substantial transaction volumes, the API offers a more direct and efficient method of transmitting data between the taxpayers’ system and the MyInvois system.
• Although implementing the API requires an upfront investment in technology and adjustments to the existing systems, it proves to be a worthwhile investment in the long run.
• Businesses can either directly integrate with these apis through their IT teams or can integrate via an service provider. A service provider here could be either ERP System integrators or traditionally IT service providers or eInvoice service providers accredited by MDEC.

Introducing Compliance-as-a-Service and Peppol Access Point

Valtatech offers a comprehensive eInvoice solution that helps businesses in Malaysia achieve e-invoice compliance effortlessly. Valtatech’s Compliance-as-a-Service (CAAS) solution automates the invoicing process, ensuring adherence to the tax authority’s requirements.

With Valtatech as service provider to comply with LHDN, taxpayers will not only get compliant with LHDN but also with Malaysian national e-invoicing initiative driven by MDEC to achieve business efficiencies by streamline their e-Invoice processes, ensuring accuracy and reducing the risk of manual errors. The integration of e-Invoicing not only offers a seamless experience for taxpayers but also enhances operational efficiency and boosts adherence to tax regulations.

At Valtatech we take great pride in the opportunity to help organisations automate and optimise their finance and procurement operations. Driven by our vast domain expertise, we have a well-defined approach to ensure that you are getting the most value from your investment, as soon as possible.

At the heart of everything we do is a razor-sharp focus on delivering business value, Value is ultimately a common vision of what success looks like. It’s visibility. It’s savings. It’s user adoption. It’s compliance. It’s best practice. It’s all of that combined. It’s what we define, together, as our shared objective. Value is what we measure and what we strive for.