Latest news with #e-Invoice
New Straits Times
12-06-2025
- Business
- New Straits Times
LHDN receives 328 million e-invoices from nearly 35,000 taxpayers since August 2024
GEORGE TOWN: The Inland Revenue Board (LHDN) has received 328 million e-invoices from taxpayers as of yesterday, since the system was launched in August 2024. LHDN tax operations department director (e-Invoice division) Dr Rasyidah Che Rosli said nearly 35,000 taxpayers had submitted e-invoices, including many who had adopted the system voluntarily ahead of their respective mandatory phases. "This is a positive response from taxpayers under the first phase, as well as those in the second and third phases who have implemented e-invoicing voluntarily. "The digital records via the e-Invoice system help prevent the loss or misplacement of documentation and will, in future, be integrated directly into taxpayers' return forms for greater efficiency and accuracy," she told reporters at the CTOS SME Biz Day 2025 Penang, held at the Setia Spice Convention Centre here today. The event was officiated by Penang Deputy Chief Minister II Jagdeep Singh Deo, and was attended by more than 1,300 participants, including government representatives, industry experts and corporate leaders. Meanwhile, Rasyidah said LHDN had granted an interim six-month relaxation period for each implementation phase involving taxpayers who are issuing consolidated e-invoices. She said the board was also supporting taxpayers during the transition by providing guidelines and frequently asked questions on its e-Invoice microsite. "LHDN also provides a transmission mechanism through an application programming interface (API) integrated with MyInvois, which allows taxpayers to either develop their own system or use the services of technology providers," she added. Taxpayers may also submit their e-invoices via the MyInvois portal free of charge, and are encouraged to refer to the LHDN e-Invoice microsite for further guidance. The e-Invoice system was implemented on Aug 1, 2024, for companies with annual sales exceeding RM100 million. The second phase began on Jan 1, 2025, for companies with annual sales between RM25 million and RM100 million. On June 5, LHDN announced that taxpayers with income or annual sales below RM500,000 would be exempted from the e-Invoice requirement for now. Implementation has been postponed to Jan 1, 2026, for those with earnings between RM1 million and RM5 million, while those with income up to RM1 million will begin on July 1, 2026.
New Straits Times
09-06-2025
- Business
- New Straits Times
IRB urges businesses to adopt e-Invoicing ahead of deadline
KUALA LUMPUR: Businesses ready to adopt the e-Invoice system are encouraged to begin the transition immediately, even if their mandatory implementation phase has not yet started. Inland Revenue Board (IRB) chief executive officer Datuk Dr Abu Tariq Jamaluddin said the agency welcomes early adoption from businesses, stressing that there is no need to wait for the official rollout timeline. "We encourage all traders who are ready to participate in the e-Invoice system to do so. They are actually welcome to join without waiting for the designated timeline," he told reporters after visiting Media Prima News and Current Affairs Division facilities in Balai Berita, Jalan Riong, Bangsar today. IRB on last Thursday said that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1 million but not exceeding RM5 million has been postponed to Jan 1, 2026. Meanwhile, the implementation phase for taxpayers with annual income or sales up to RM1 million has been postponed to July 1, 2026 Taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. The board said the decision was made after the government acknowledged the efforts of taxpayers, particularly micro, small and medium enterprises (MSMEs), to comply with e-invoicing legal requirements, which demand sufficient preparation time and pose numerous implementation challenges. E-invoicing has been implemented in phases since last year, with the first phase starting on August 1 for businesses with annual revenue over RM100 million. The second phase began on January 1 this year, extending the requirement to businesses with annual revenue between RM25 million and RM100 million. Abu Tariq said both phases have received a positive response, with more than 300 million e-invoices successfully submitted to date. He added that although there is no specific revenue target for the initiative, improved record-keeping is expected to lead to an overall increase in tax collection over time. "Our aim is not only to improve tax compliance but also to help businesses maintain more accurate and organised records. This will support better reporting and ultimately contribute to more effective tax administration. "We don't have a specific target for this initiative but we expect that with better record-keeping, tax collection should also continue to increase," he added.
Daily Express
07-06-2025
- Business
- Daily Express
E-invoice rethink is hailed
Published on: Saturday, June 07, 2025 Published on: Sat, Jun 07, 2025 By: David Thien Text Size: Lim and Ng. Kota Kinabalu: The Small and Medium Enterprises Association of Malaysia (Samenta) hails the government's rethink on e-invoicing requirements and hopes that its call for the government's rethink on stamping of employment contracts will resolve the issue. The Inland Revenue Board's (LHDN) has just announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. Advertisement This was what Samenta has fought for in the interests of Micro, Small, and Medium Enterprises (MSMEs) in Malaysia, initially just getting a RM150,000 exemption. Supported by its Sabah head Dato' George Lim, Samenta president Datuk William Ng said the stamping issue goes beyond legal interpretation but it is about operational feasibility. They said the sudden shift from a passive regime to active enforcement, coupled with retrospective audits and penalties, is perceived as punitive rather than developmental. Subscribe or LOG IN to access this article. Support Independant Journalism Subscribe to Daily Express Malaysia Access to DE E-Paper Access to DE E-Paper Exclusive News Exclusive News Invites to special events Invites to special events Giveaways & Rewards 1-Year Most Popular (Income Tax Deductible) Explore Plans Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
06-06-2025
- Business
- The Star
Repeated delays in e-invoicing rollout reveal lack of preparedness, says MCA Youth
THE Inland Revenue Board (LHDN) has announced yet another delay to the implementation of the e-Invoice system on June 5, originally scheduled to be enforced this year for companies with an annual turnover of RM1mil. The rollout has now been postponed to July 2026, with exemptions granted to businesses earning less than RM500,000 annually. The government is strongly urged to cease the repeated deferments, openly acknowledge the current lack of readiness for implementation and embark on a comprehensive review of the nation's long-term tax structure. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only
The Star
06-06-2025
- Business
- The Star
LHDN: Digitalisation makes everything easier for taxpayers
KUALA LUMPUR: The Inland Revenue Board's (LHDN) drive for comprehensive digital transformation aims to simplify matters for taxpayers and increase compliance levels. LHDN chief operations officer Marsidi Zelika, who disclosed this, said the digital transformation not only focuses on migrating services to online platforms but also on changing the work structure, mindset and operational strategy to ensure more efficient and user-friendly tax services. 'It includes systems such as MyTax, ByrHASiL, e-Filing and now e-Invoicing, all created for taxpayers to manage their tax affairs promptly, easily and securely without having to go to the counter,' he said during Bernama TV's Ruang Bicara programme, which aired on Wednesday night. Marsidi said the e-Filing system, for example, was equipped with automatic calculation and final review functions to help users avoid common mistakes such as incorrect tax calculations and incomplete data. 'The data integration function, automatic verification and use of a single identity-based system through MyTax ensures that taxpayers' information is consistent and easy to track,' he said, adding that the system was also linked to the monthly tax deduction (PCB) information from employers. He also said the implementation of e-Invoice, which started last August in phases, has received an encouraging response mainly from small and medium-sized businesses. As of June 4 this year, he said more than 313.4 million e-Invoices have been recorded involving 33,391 taxpayers. 'This clearly shows a very positive reception for this digital initiative,' he added. Marsidi said the e-Invoice did not just replace printed invoices but also opened up opportunities for micro, small and medium enterprises (MSMEs) to restructure their business accounting systems more systematically and effectively. The MyInvois portal and application, which are offered for free, allow users to access, send and store transaction documents digitally, thus reducing the risk of losing documents and speeding up administrative matters. He said LHDN also provides a one-stop reference centre through the e-Invoice microsite as well as guidelines, video tutorials and an e-Invoice help desk, besides the e-Invoice counters at its tax offices.
