E-Invoicing Software in Malaysia
As a business owner in Malaysia, the buzz about the upcoming implementation of e-Invoicing beginning 2024 has likely reached you in recent months. This revolutionary initiative promises to streamline transaction reporting and reform tax administration.
Before you dive into this digital adventure, let’s learn about the vital role that your Tax Identification Number (TIN) and Digital Certificate play in this transformative journey.
E-Invoicing Workflow
Step 1: Submission of e-Invoice by the Supplier
Upon completing a transaction, the suppliers will issue an e-Invoice. The e-Invoice can be submitted to LHDN via either MyInvois Portal or Software with Direct API Integration for validation.
Step 2: Validation by LHDN
The server of LHDN will validate the e-Invoice in near real-time. Upon successful validation, the supplier receives a validated e-Invoice with a unique LHDN identification number, validated date and time, as well as an validation link.
Whereas if there is any error, it will be flagged and communicated through an error message.
Benefits to taxpayers
Reduction in manual efforts and human errors
Unified invoicing process through creation and submission of transaction document & data electronically
Facilitated tax return filing
Seamless system integration for efficient and accurate tax reporting
Enables streamlining of operations
Enhanced efficiency and significant time and cost savings
Digitalised financial reporting
Aligns financial reporting and processes to be digitalised with industry standards
Application Programming Interface (API) Capabilities in E-invoicing
APIs are revolutionizing the way businesses handle e-invoicing. By enabling seamless communication between your systems and the tax authority's portal, APIs streamline processes, reduce errors, and ensure timely compliance.
LHDN's API empowers businesses to submit invoices programmatically, eliminating manual data entry and speeding up the invoicing process.
Globe3's API Solution takes it a step further, offering comprehensive support to simplify e-invoicing. Our solution:
- Automates LHDN-compliant invoice submissions
- Integrates seamlessly with your existing systems
- Ensures accurate and timely data transmission
- Provides real-time monitoring and error notifications
- Guarantees data security and compliance with tax regulations
Simplify Your E-Invoicing with Globe3 API
Globe3 API offers comprehensive support for businesses dealing with the complexities of e-invoicing APIs with minimal disruption to the existing source systems. Our solutions include robust integration services that simplify connecting your systems with e-invoicing portals, alleviating the burden of managing direct API connections. We provide tailored assistance to ensure seamless integration, accurate data handling, and regulatory compliance.
Enquire Now