Research on Taxation and Invoice Management in Malaysia

Malaysia’s MyInvois system supports the issuance of eight types of documents. These primarily include invoices, credit notes, debit notes, and refund notes—issuable by both sellers and buyers. Buyer-issued documents are used in specific scenarios, such as for imported goods or when the seller cannot be contacted to issue an invoice. Additionally, for small-value transactions with the same buyer, consolidated invoicing (Consolidated Invoice) is supported. Issuance of the Four Document Types VI. System Development Malaysia’s e-invoicing system provides taxpayers with the free MyInvois portal for submitting e-invoices, and also allows enterprises to submit e-invoices via certified e-invoicing service providers. 1. MyInvois Portal Taxpayers can access the MyInvois portal through the MyTax portal—the gateway to HASiL’s e-services. To facilitate taxpayer use, HASiL offers two access environments: a pre-production environment (preprod-mytax.hasil.gov.my) and a production environment (mytax.hasil.gov.my). The MyInvois system provides a comprehensive user manual, accessible at: hasil.gov.my/en/e-invoi... It supports direct configuration of APPID and API keys, enabling seamless integration with ERP systems. See: youtube.com/watch?... Third-party agents are authorized to retrieve enterprise data. API integration is supported. Integration documentation is available at: sdk.myinvois.hasil.gov.my... E-POS System The MyInvois Electronic Point-of-Sale (POS) system is a digital POS platform specially developed and offered free of charge by HASiL to small and medium-sized enterprises (SMEs), enhancing operational efficiency and meeting e-invoicing implementation requirements. In addition to sales management, accounting, inventory management, and financial reporting functionalities, the MyInvois e-POS system enables sellers to generate e-invoices directly during transactions with buyers; buyers may also request e-invoices from sellers after transaction completion. Rich in features, the MyInvois e-POS system serves as a complementary tool supporting Malaysia’s broader business ecosystem and strengthening national e-invoicing implementation. VII. E-Invoicing Service Integration Requirements Malaysia’s electronic invoices (e-Invoices) are administered by the Inland Revenue Board of Malaysia (LHDN) via the MyInvois platform. Certification of e-invoicing service providers is overseen by the Malaysian Digital Economy Corporation (MDEC), acting as the Peppol Authority. 1. Integration Steps 1) Obtain API Access Register a MyInvois account to obtain API credentials (Client ID and Client Secret) and the taxpayer identification number (TIN).

Petronas’ 2022 Revenue of USD 84 Billion

Malaysia’s national oil and gas company, Petronas, announced on Monday that its revenue for last year totaled USD 84 billion (RM 375.3 billion), representing an approximately 51% increase over 2021, driven primarily by higher commodity prices. Petronas’ after-tax profit also rose to USD 23 billion (RM 101.6 billion), nearly double the previous year’s USD 11 billion (RM 50.9 billion). In a press release, the state-owned company stated that the revenue growth was “mainly attributable to favorable price impacts on key products, aligned with higher benchmark prices.” Petronas reported an average daily production of 2.43 million barrels of oil equivalent (BOE) per day in 2022, up from 2.27 million BOE per day in 2021. The Kuala Lumpur–based company added: “This was primarily due to overall improvement in natural gas demand on the Malay Peninsula, coupled with opportunities and stronger performance from international operations.” In 2022, Petronas’ total capital investment—or expenditure on physical assets—amounted to USD 11 billion (RM 50.1 billion), while its total assets stood at USD 159 billion (RM 710.6 billion). The earnings report stated: “Despite prolonged market volatility in 2022, the Group remains committed to prudent financial management and strict reinvestment discipline to deliver energy security today and enable a just and responsible energy transition.” Petronas noted that prices may moderate this year, “given anticipated economic slowdown, even as the oil and gas industry continues to contend with long-term market volatility.” The press release added: “In this environment, Petronas will continue to drive operational excellence across its core businesses while pursuing its growth and sustainability objectives.” Operational Highlights Last year, Petronas made nine exploration discoveries domestically in Malaysia and signed two production sharing contracts (PSCs) in Brazil and Indonesia. In 2022, the company signed six PSCs in Malaysia, including its latest agreement—the Block SB 2K Production Sharing Contract. It also entered into an exploration rights purchase agreement—or partial interest transfer agreement—with France’s TotalEnergies and Australia’s Woodside Energy to acquire a 30% equity stake in the Congo Brazzaville Marine 20 Production Sharing Contract.

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