Future of Financial Transactions

Stay Compliant with MHub’s E-Invoicing

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Objective

Facilitate the seamless adoption of e-Invoicing in Malaysia with a secured, proven and integrated solution.

Benefits

E-Invoicing offers various pros to all the parties involved in the property industry:

Reduce manual efforts and human errors

Cuts down on manual workloads and minimizes the potential for human errors in financial operations.

Facilitate efficient
tax filing

Simplifies tax reporting by providing accurate and organized financial data, streamlining the filing process.

Streamline operational efficiency

Optimizes workflows and processes, enhancing day-to-day operational efficiency.

Digitalize tax and financial reporting

Improves accuracy, simplifies record-keeping, and ensures that reporting aligns with regulatory requirements, making compliance smoother and more efficient.

Visualizing Traditional Methods vs e-Invoicing: A Comparative Overview

Here's a simplified table to visualize the comparative points between the paper-based invoicing and e-Invoicing:

Mapping the Workflow: E-Invoicing Efficiency

Here's a simplified workflow from a successful sale to the issuance of an e-Invoice which is then stored on IRBM's database as records.

Frequently Ask Question

Will all businesses be required to issue e-Invoice?

Yes, every business will need to adopt e-Invoicing as per the phased mandatory implementation timeline, determined by their annual turnover or revenue threshold.

What e-Invoice model will be adopted?

IRBM will adopt the Continuous Transaction Control (CTC) Model where the validation is done in near real-time by IRBM.

What happens if a business fails to comply with e-Invoicing regulations in Malaysia?

Non-compliance might lead to penalties or fines imposed by regulatory bodies. It's essential to adhere to the mandated e-Invoicing guidelines.

Does e-Invoicing in Malaysia require any specific technical infrastructure?

Businesses need an internet connection and compatible accounting or invoicing, business software to implement e-Invoicing. It doesn't demand a complex technical infrastructure.

Does e-invoicing apply to specific industries or sectors in Malaysia?

E-Invoicing is aimed at all sectors and industries in Malaysia and is gradually being rolled out across various businesses regardless of industry, including the property industry.