During the latest Budget speech in October 2023, Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Bin Ibrahim, unveiled plans for the phased implementation of e-invoicing, a digital leap aimed at enhancing the efficiency of tax administration management across Malaysia.

The mandate is clear: Companies with revenues over RM100 million must align with this new directive by August 1, 2024, and the rest are to follow suit by 2025.

Fully aware of the profound impact this shift will bring to all industries, Finexus has stepped up to the plate with a swift and strategic response. Finexus is introducing their e-invoicing solution called AREMA, designed to seamlessly navigate and comprehensively fulfil LHDN’s e-invoicing compliance requirements from start to finish.

Finexus is offering a few models to cater for all industries:

Enterprise Model

• For clients from the Banking or Insurance industries who need to fulfil regulatory compliance such as RMiT, and any MNCs or Corporations requiring similar Managed Services
• Single Instance and Single Tenant, with no co-mingling of Data
• Dedicated 24×7 support
• Hosted in a secured environment, PCI DSS Level 1 and RMiT compliant

Premium Model (Customised)

• For companies that require API (real-time) or automated Batch Upload to integrate their Accounting Systems (such as SAP, ORACLE, ERP Systems) with the AREMA platform
• Professional technical services offered to facilitate the integration of your systems with AREMA
• Technical and Help Desk Support on Monday – Friday from 9 – 6 PM
• Hosted in a secured environment, PCI DSS Level 1 and RMiT compliant

Standard Model (Self-Service)

• For companies or individuals who prefer a self-managed approach, allowing them to manually key in or batch upload data to the AREMA Portal and obtain validated invoices from LHDN
• Includes help desk support via email with a response time of within 2 business days

Retail Model (Walk-In Customers)

• For walk-in customers of retail shops, outlets, supermarkets, and F&B restaurants
• Enables customers to generate their own LHDN-validated invoices at their convenience

The Key Advantages of the AREMA LHDN E-invoicing System

• Seamless Integration: AREMA middleware effortlessly connects your accounting systems to the LHDN Portal with minimal or no modifications needed to your existing systems
• Cost and Time Efficiency: Eliminate the need for accounting system upgrades, saving significant time and effort in retesting
• Hassle-Free: Any updates from LHDN are automatically managed by AREMA, ensuring you the ease of leaving your host system untouched
• Enhanced Database: Extended database to accommodate additional LHDN-required data
• Automated Data Management: Features Auto Data Enrichment or Populator for streamlined data handling
• Comprehensive Reconciliation: Ensures alignment between your ERP or Accounting System, AREMA, and LHDN
• Expert Exception Handling: Efficient management of operational exceptions for smoother processes

Why Finexus?

Specialising in both regulatory reporting and regulatory payments compliance systems, Finexus stands out as a diversified and dynamic company in the technology landscape.

Visit: https://www.malaysiakini.com/announcement/697597