Become E-invoicing compliant with Capital Markets Specialist
Connect | Automate | Simplify
Connect
Seamless integration with any existing core / post-trade system.
Automate
Reduce human intervention to improve efficiecy and accuracy.
Simplify
Compliant with complete electronic invoicing mandate in Malaysia.
To support the growth of the digital economy, the Government of Malaysia will implement e-invoices in stages to enhance the efficiency of Malaysia’s tax administration management. The Inland Revenue Board Malaysia (IRBM), also known as Lembaga Hasil Dalam Negeri (LHDN), had announced that the e-invoicing initiative will be implemented in phases beginning in August 2024. e-Invoicing is applicable to all taxpayers undertaking commercial activities in Malaysia; including brokers, financial institutions and clearing houses.
1st August, 2024
1st January, 2025
1st July, 2025
With the implementation of e-Invoice, suppliers must issue e-Invoices even for all B2C transactions. For the financial services industry this includes all invoices raised to retail or institutional clients, including brokerage fee for all transactions. Under Malaysia’s e-Invoicing system, all typed of invoicing must be issued in electronic format including normal invoices, credit notes, debit notes, and refund notes.
Electronic Invoicing Platforms in Malaysia
1. MyInvois portal hosted by IRBM
The MyInvois Portal, provided by the Inland Revenue Board of Malaysia (IRBM), is accessible to all businesses. This portal is particularly suitable for Micro, Small, and Medium-sized Enterprises (MSMEs) due to its simplicity and user-friendly interface. However, it is only practical for businesses with a small volume of data.
2. Application Programming Interface (API)
For larger businesses with substantial transaction volumes, the API transmission mode is more appropriate. APIs can be implemented in either XML or JSON format and require an investment in technology and modifications to existing systems. This method is efficient and scalable, making it the preferred choice for large enterprises.
By selecting the appropriate e-invoicing model, businesses in Malaysia can ensure compliance and streamline their invoicing processes according to their size and transaction volume.
Ensure Electronic Invoicing Compliance with NOVA
NOVA’s e-Invoicing module is all set to automate the complete process for every transaction that needs to comply with this new regulation; including commission and clearing fee.
Experienced, trusted, and leading capital markets solution in Asia
With over 2 decades of experience in automating post trade processes for some of the leading stockbrokers, banks and clearing houses across Asia Pacific, we understand the challenges faced at every step and thus our solution is custom designed to address specific challenges of the financial industry.
Reduce Manual Efforts & Human Errors
Brokers can define every transaction that required invoice generation. Our system will auto generate the e-invoices to include all the information as required by IRBM, generate digital certificates for e-signatures, and get real-time insights on the status of the e-invoices.
Complete Access Control
Businesses can create use access control only authorising required personnel to access e-invoicing functions; set alerts and notifications and have the provision for rejecting or canceling an invoice.
Seamlessly Connect & Comply
NOVA e-Invoicing module seamlessly connects with the post trade operations, picks data for all the required fields, connect to IRBM systems through APIs or upload manually using the Government portal and generate the unique number and QR code. All through a single system.
Customised E-Invoicing
solution to integrate with workflows of retail and institutional brokers
Comprehensive Reports
feature allows users to extract reports in required formats
With Desktop/Web Versions
users can access the system at convenience anytime, anywhere
E-Invoice Storage
allows easy store and extraction required for future references and audits
Local Presence in Malaysia
allows us to understand your requirement better and deliver faster
Stay Updated with Alerts
and notifications, as well as get real time insights on your invoices
Our experts are based in Malaysia and thus understand the specific needs.
Leave us your details and we will contact you at the earliest.
We are governed by Data Protection laws and rest assured, your contact details are safe with us.