With a tight timeline for implementation, taxpayers would need to assess the following:
Businesses must issue an e-Invoice in respect of any goods sold or services performed to be transmitted electronically to and validated by the Inland Revenue Board of Malaysia (“IRBM”).
e-Invoices need to be issued by businesses via integration of accounting system to the MyInvois Portal or Application Programming Interface (“API”).
Suppliers are obliged to share the validated e-Invoice with the buyer.
Alternatively, integration may be done through BDO e-Invoice Middleware to facilitate e-Invoicing compliance and enhance security.
Key Features:
Direct integration with ERP
Able to accept data in client’s format
Unlimited user access
Able to handle both AR and AP invoices
72-hour cancellation window (including requests for rejection)
Storage of transaction history for up to 7 years
Able to send e-Invoices to customers automatically
Full reporting features
Adapts to evolving IRBM standards and regulatory changes
Dedicated helpdesk
Add-on: Account Payable invoice management
Add-on: Customisable reports