Streamlining Transactions: The e-Invois System in Malaysia

This is an infographic that outlines the workflow of implementing e-Invois between sellers and buyers in Malaysia. published by Lembaga Hasil Dalam Negeri’ Facebook.

Here’s a summary of the key points:

1. Business Transactions: The usual business transactions take place between the seller and the buyer.
2. Issuing e-Invois: The seller issues an e-Invoice through the MyInvois portal or an ERP system for each transaction or in batches.
3. Verification Process: The data on the e-Invoice is verified by HASIL (the Inland Revenue Board of Malaysia).
4. Notification: The seller receives a notification that the e-Invoice has been verified, which is sent through the portal or email.
5. Sharing e-Invois: The seller shares the e-Invoice with the buyer, which includes a QR code.
6. Error Correction: If there are mistakes, the e-Invoice can be rejected or canceled.
7. Record Keeping: e-Invoices are stored in HASIL’s database, and sellers are reminded to keep adequate records and documentation.
8. Access to Records: Sellers can check their transaction records at any time.

This system seems to streamline the invoicing process, ensuring quick verification and secure record-keeping, which could be beneficial for both sellers and buyers in terms of efficiency and compliance.