Inland Revenue Board of Malaysia (IRBM/LHDN) - New Updates

Malaysia is changing the way businesses handle taxes by using electronic invoicing, or e-invoicing. This is a big step forward, and the Inland Revenue Board of Malaysia (IRBM), also known as Lembaga Hasil Dalam Negeri (LHDN), is leading the way. This article will explain what LHDN/IRBM is doing to make e-invoicing easy and helpful for everyone.

What is LHDN/IRBM?

LHDN/IRBM is the group that makes the rules for taxes in Malaysia. They are very important because they help make sure that the e-invoicing system works well. They do this by teaching businesses about e-invoicing and making sure everyone knows how to use it.

How Does LHDN/IRBM Help with E-Invoicing?

LHDN/IRBM has a lot of jobs when it comes to e-invoicing. They have made a special system called MyInvois for handling e-invoices. Here are some of the things they do:

• Guideline Issuance: IRBM provides comprehensive instructions for integrating e-invoicing into business operations, ensuring uniform understanding and implementation.
• MyInvois System Management: IRBM ensures the MyInvois system is accessible, secure, and efficient, facilitating smooth e-invoice submission and validation.
• Data Security: Recognizing the sensitivity of exchanged information, IRBM prioritizes the security of the MyInvois system to protect against potential threats.
• Compliance Monitoring: IRBM vigilantly monitors compliance, ensuring adherence to e-invoicing regulations.
• Support for Stakeholders: IRBM offers resources and support to taxpayers and software providers, aiding a seamless transition to e-invoicing.

LHDN/IRBM stands as the pillar of Malaysia's e-invoicing initiative, not only setting the foundation with its policies but also bringing these policies to life. Their efforts ensure that businesses can adopt e-invoicing effortlessly, paving the way for a tax system that is not only efficient but also future-ready.

Why is E-Invoicing Good?

E-invoicing is great because it makes dealing with taxes easier and more modern. It helps businesses work better together and makes the marketplace stronger.

How to Get Started with E-Invoicing

If you're a business in Malaysia, here's what you can do to start using e-invoicing:

Now that you're equipped with an understanding of Malaysia's e-invoicing process, here's how you can take action:

• Register for MyInvois System: If you haven't already, register your business on the MyInvois platform to start issuing and receiving e-invoices.
• Attend a Webinar: Look out for webinars on e-invoicing hosted by LHDN/IRBM. These sessions can provide valuable insights and address any questions you may have.
• Seek Assistance: For further assistance or specific queries, don't hesitate to contact LHDN/IRBM. They are there to help you navigate this transition smoothly.

Stay Updated

Subscribe to our newsletter to stay updated with the latest developments in e-invoicing and other tax-related news. If you have any questions or need guidance, feel free to contact our team. We're here to help you make the most of Malaysia's e-invoicing process.