KUALA LUMPUR: The government launched a free e-invoicing solution portal, called Myinvois, on Wednesday (July 31) ahead of the first phase of einvoicing implementation on Aug 1.
Hosted and run entirely by the Inland Revenue Board (LHDN), Myinvois will allow all taxpayers to register and perform their einvoicing activities via the website.
The portal will provide two primary einvoice sending mechanisms for taxpayers, including manually filing their invoices into a digital form provided on the website.
The other mechanism is through its Application Programming Interface (API) which allows taxpayers’ existing enterprise resource planning (ERP) systems to search for necessary einvoicing-related documents available on the Myinvois System.
It also helps to validate specific Tax Identification Numbers (TIN) before adding this number to an invoice, issuing the invoice and submitting it to the Myinvois system.
LHDN chief executive officer Datuk Dr Abu Tariq Jamaluddin said approximately 37,300 users have accessed the Myinvois Portal and about 1,700 users have accessed the Myinvois API Production as of July 23 this year.
He said the platform would bring about greater tax transparency and compliance through its state-of-the-art capabilities which focused on security, smooth integration with existing systems and accurate real-time information.
“Myinvois was built with security at its core, ensuring all data is processed and stored with the highest level of integrity and confidentiality.
“It also seamlessly integrates with existing systems such as MyTax, allowing for smooth portal submissions and interactions.
“Robust validation and processing capabilities are also in place to ensure all documents meet the required standards and regulations to provide real-time insights into operations and prevent irregularities.
“With this, we hope to empower users with actionable insights, enabling better decision-making and strategic planning,” he said in his opening speech during the launch of the portal at a hotel here.
Deputy Finance Minister Lim Hui Ying praised the portal’s launch as the next step towards the modernisation and digitalisation of the country's ageing public systems.
“This marks a new era of digitalisation, enhancing efficiency, transparency and accountability, as well as a significant advancement in our digitalisation journey, empowering businesses of all sizes to embrace digital transformation without financial barriers.
“Being a free platform will help to simplify the e-Invoicing process, making it easier for businesses to manage transactions and comply with regulatory requirements.
“Other than combating fraud, Myinvois is expected to significantly reduce potential invoicing errors while also aligning with our environmental goals as well as boosting our economic growth and global competitiveness,” she said in her speech.
Lim added that plans to launch a mobile application version of Myinvois for ease of access and use were also underway and expected in October this year.
