IRB: e-Invoice simplifies tax reporting, helps MSMEs plan finances
KUALA LUMPUR: The implementation of e-Invoice will not burden micro, small and medium enterprises (MSMEs) but will provide benefits in business management and tax compliance, according to the Inland Revenue Board (IRB) e-Invoice Division director, Mohamad Rozainy Mohamad Arif.
He said the implementation of e-Invoice is to replace manual invoices by containing complete transaction information such as goods, quantity, price, tax and the Tax Identification Number (TIN) of the seller and buyer.
'It helps MSMEs plan finances, simplify loan management and tax reporting, as well as reduce the risk of losing or damaging manual documents,' he said when featured in Bernama Radio's Klinik Cukai HASiL programme today.
Mohamad Rozainy said the implementation of the third phase of e-Invoice starting July 1 will involve taxpayers with annual income between RM500,000 and RM25 million, while all other taxpayers will be required to do so starting Jan 1, 2026.
Since the implementation of e-invoice in phases starting Aug 1 last year, more than 280 million transactions have been recorded involving almost 30,000 taxpayers, he said.
Mohamad Rozainy said in a bid to help taxpayers obtain accurate information and make necessary preparations, various initiatives were provided to support the implementation of e-Invoices, especially for MSMEs, including free briefings nationwide, service counters at IRB offices and a 24-hour helpline at 03-8682 8000.
He said IRB also provided the MyInvois portal and app free of charge for all taxpayers, while the MyInvois Electronic Point of Sales (e-POS) System was offered free of charge to MSMEs that did not yet have a point of sale (POS) system.
'The government has also given taxpayers six months' flexibility to implement e-Invoice more flexibly. This flexibility allows sellers to issue a consolidated e-Invoice without having to issue an e-Invoice for each transaction,' he said.
Meanwhile, for online traders, especially on local e-commerce platforms, Mohamad Rozainy said the implementation of e-Invoice was the responsibility of the platform provider alone, while MSMEs only needed to ensure their business information was always updated.
He said the government also announced an exemption from the implementation of e-Invoice for taxpayers with annual income below RM150,000 to help micro businesses.
'This exemption does not apply to higher-income companies,' he said
He also asked all taxpayers to make early preparations by referring to information on the official IRB portal, updating business information and taking advantage of the applications and systems provided for free.
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