- The Inland Revenue Board’s CEO suggests that implementing e-invoicing would be helpful if the government reintroduces the goods and services tax (GST).
- E-invoicing can cater to the GST system and play a role in helping the government reach its tax collection target.
- Malaysia is among the few ASEAN nations that do not impose GST.
- The government has postponed the implementation of e-invoicing for taxpayers with an annual turnover of over RM100 million by two months, which may not be sufficient for full compliance.
- The timeline for mandatory e-invoicing implementation for taxpayers is provided.
- The use of tax identification numbers will be expanded to support e-invoicing implementation and broaden the taxpayer base.
Source: theedgemalaysia.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
