e-Invoice: Digital Solution For Transparent Transaction Management - HASiL

KUALA LUMPUR, Sept 3 (Bernama) -- The implementation of the e-Invoice system by the Inland Revenue Board of Malaysia (HASiL) represents a digital approach to recording transactions in a modern and transparent manner, said HASiL Tax Operations Sector director (e-Invoice Division) Dr Rasyidah Che Rosli.

She said the implementation was in line with the government’s desire to digitise the business ecosystem under the 12th Malaysia Plan (12MP).

“In the past, some people recorded transactions by hand, while others had been in business for years without keeping any records. With e-Invoice, all transactions are now more organised,” she said in Bernama Radio’s POV: Perspektif Bukan Persepsi programme, hosted by Kamal Affandi Hashim yesterday.

Rasyidah said HASiL, as a support measure, had provided two free platforms, namely the MyInvois Portal and the MyInvois e-POS System, to assist taxpayers, particularly micro, small and medium enterprises (MSMEs), in implementing e-Invoice according to their business needs.

“If the majority of customers are other businesses (B2B), the MyInvois Portal is suitable, as transaction volumes are moderate. However, if most customers are consumers (B2C), such as retail stores, it is more practical to use the MyInvois e-POS System.

“The e-POS system enables sellers to scan items, receive payments and issue receipts with QR codes. If customers request an e-Invoice, they simply scan the code, and the system generates it automatically without disrupting daily business operations,” she said.

Rasyidah said, however, that the MyInvois e-POS system was only available to MSMEs meeting certain conditions, namely having annual sales below RM750,000, being owned by Malaysians, and operating within the country.

She explained that the third phase of the e-Invoice implementation began on July 1, covering taxpayers with income between RM5 million and RM25 million, while two additional phases, namely the fourth for income between RM1 million and RM5 million and the fifth for income of up to RM1 million, would be introduced for micro businesses.

Rasyidah said that, for the record, the government had raised the threshold for mandatory e-Invoicing from RM150,000 to RM500,000, exempting traders with annual sales below that amount from the requirement.

“However, they are encouraged to use the system voluntarily to improve business record management and create opportunities for obtaining business financing from financial institutions in the future,” she said.

Rasyidah said that the implementation of e-Invoices had not burdened online businesses, as the process was managed by the e-commerce platform, but traders were required to keep their business data up to date.

“Currently, overseas e-commerce platform providers are not yet subject to e-Invoice implementation in Malaysia. Therefore, traders who conduct business through such platforms need to issue their own e-Invoices,” she said.

When asked about the data security aspects of the system, Rasyidah said it had been developed in accordance with the HASiL ICT Security Policy, as well as government guidelines on cloud and information security.

“Security features including encryption, authentication, firewalls and access control have also been implemented. Security Posture Assessments (SPA) are conducted periodically with third parties, as well as in collaboration with the National Cyber Security Agency (NACSA) and the National Security Council (MKN),” she said, adding that buyer data is protected under the Personal Data Protection Act 2010.

To assist taxpayers, HASiL provides various support channels, including a dedicated microsite at www.hasil.gov.my/e-invois featuring guidelines, videos and frequently asked questions (FAQ); e-Invoice service counters at all HASiL offices nationwide; and the e-Invoice Help Desk at 03-8682 8000, which operates 24 hours a day, seven days a week.

-- BERNAMA