INReport is a centralized RegTech solution that automates regulatory report submission to Regulatory Bodies. It provides the facility to generate reports by integrating the interface with its source system. It can extract data from source systems messages and merge it with required business rules and reporting logic, thus transforming it into the desired file format.
INReport e-Invoice
INReport e-Invoice is a real-time solution that is tailored for the IT backend environment that requires centralization on LHDN e-invoice management for TaxPayer Proof of Income & Proof of Expenses.
- A business entity with Multiple Sources/ERP/Accounting Systems.
- Holdings company would like to have a centralized e-invoicing system across all subsidiaries.
- Foreign brand ERP that does not have e-invoice solutions.
- A legacy system that needs to comply with LHDN e-invoice.
- Looking for an extensive solution that would cover Malaysia’s upcoming GST requirement.
What INReport e-Invoice do?
INReport e-Invoice complies with real-time transactional requirements on e-invoicing for B2B, B2C & B2G regulatory requirements. Requirement that the Inland Revenue Board of Malaysia (IRBM), also known as the Lembaga Hasil Dalam Negeri Malaysia (LHDN), be presented to administer business transactions and to improve the management of Malaysia’s tax administration.
INReport e-Invoice Workflow via API
INReport e-Invoice Features
1. Compliance
We comply with the e-Invoice model via API for the latest tax regulations and tax reporting requirements by LHDN. We are dynamic & support future incremental requirements, including the extension to GST.
2. One-stop solution by Taxpayer as the Supplier & Taxpayer as the Buyer role
Taxpayer as the Supplier
- E-invoice Pre-Submission (Digital Certificate)
- E-invoice Submission (Invoice/Debit/Credit/Refund)
- E-invoice Validation – UIN & invoice data validation, 72 hours real-time validation with Supplier or Buyer via LHDN)
- E-invoice Notification
- Sharing of e-invoice (final e-invoice with QR code)
- Rejection and Cancellation (Buyer rejection, Supplier cancellation)
- TIN & UIN Management
- where goods are shipped to a different recipient and/or address
Taxpayer as the Buyer
- Self-invoice
- Cross-border transaction
- Supplier Invoice Storage & Enquiries
- TIN & UIN Management
3. Source System API Integration & LHDN API integration
4. Consolidation
We compile and aggregate into one reporting format:
- Minimize source system enhancement.
5. Real-time monitoring & alertness
We provide real-time monitoring of invoicing and tax-related activities.
6. Scalability
We accommodate the growth of businesses or government direction:
- For business: Allowing the addition of new requirements / Tax reporting submissions to comply/submit (GST)
- For IT: Cloud readiness, scalable
7. Customized Tax Invoice / Reporting Template
We generate comprehensive and customizable reports that cater to specific business needs and assist in preparing accurate tax filings attached with QR codes.
8. TIN Management
Centralized Taxpayer Identification Number, provides real-time enquiries.
9. UIN Management
A centralized module that keeps track of the Unique Identifier Number provided by IRBM per invoices.
Find out about National e-Invoicing Initiative by MDEC through Peppol.
INReport e-Invoice Platform
INReport IRB e-Invoice is built on these platforms:-
On-Premise
On-Cloud
INReport VAT / INReport GST
INReport VAT or INReport GST consolidates Input Tax and Output Tax from various Financial Institutions (FI) across multiple systems, ensuring precise tax declarations. We also prepare tax returns and tax rebate submissions for Financial Institutions, while generating tax invoices, credit notes, and debit notes for our valued Financial Institutions customers.
INReport VAT / INReport GST Features
- Efficiently gather all necessary Data Elements mandated by the VAT Authority.
- Thoroughly document and maintain Audit Trails to facilitate Tax Authority inspections and audits.
- Perform meticulous Tax return reconciliations against consolidated General Ledger entries.
Read more about GST current trends and highlights.
INReport ISS
INReport ISS is a web base reporting system used by reporting entities to generate Financial Reporting, Compliance Data and Industry Specific Reports.
ISS reports are generated in pre-formatted excel comply to BNM requirement.
INReport ESS
INReport ESS manage external assets and liabilities of the bank and generate Cash Balance of Payments(CBOP),Ultimate Beneficial Owner(UBO),Ringgit Settlement (RS), Inter-Company Account and External Assets and Liabilities (EAL) report
ESS reports are generated in CSV format comply with BNM guideline.
INReport DQF
INReport DQF (Data Quality Framework) provide a mechanism framework to identify inaccurate data such as data items exceeded pre-set threshold/validation rules so that reporting entities could provide underlying business reasons/development and details of major contributors which lead to such significant changes in data.
INReport Credit Info
INReport Credit Info consolidate and aggregate monthly credit data from source system and submit to BNM.
Credit reports are generated in CSV format to comply to BNM requirement.
INReport PIDM
INReport PIDM (Perbadanan Insurans Deposit Malaysia) INReport PIDM ensure delivery of seamless, automated and secured system for a complete and accurate submission of Insurance Depository Reporting
PIDM reports are generated in text file format comply with MDIC guideline.
INReport FATCA & CRS
INReport FATCA & CRS generate account and customer data information for foreign taxpayers who hold foreign financial assets with an aggregated value more than the reporting threshold of 50K USD or 250K USD dependent on whether the account type is individual or company.
FATCA & CRS reports are generated in XML schema base format to comply with IRBM guidelines.
INReport Recon
INReport Recon (Reconciliation) automated the reconciliations of the various data transaction from FI to ensure accuracy and ease to reconcile the transactions acros multiple platforms. The engine is able to reconcile from 80% to 100% of transaction , allowing more time for users to indentify missing transactions or fraud cases.
Analyzing risk and checking/resolving internal controlled issues to improve the rate of accuracy of Reconciliations.
INReport SCEL
INReport SCEL is a single platform for the processing of the counterparties risks.
INReport SCEL lies in its ability to identify and form possible relationship among all the counterparty exposure maintained within the various heterogeneous systems in bank. All exposures in those related counterparties that pose a single risk to bank will be aggregated against a set of rules definable by bank.
