The Inland Revenue Board of Malaysia (IRBM) has announced a 6-month relaxation period for the mandatory implementation of e-invoices, allowing organisations to issue consolidated e-invoices for all transactions, enter transaction descriptions, and issue consolidated e-invoices upon buyer request without issuing an e-invoice for each transaction. There will be no prosecution action for non-compliance during this period, and taxpayers who implement the e-invoicing requirements within the set timeline will be eligible for a reduction in the capital allowance claim period from three years to two.
Source TJC Group
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