Kota Kinabalu: It is time to be prepared for the roll out of Malaysia’s e-invoicing tax regime for big firms and SMEs, a tax briefing session was told.
Consultant Derek Wong explained the background for the Inland Revenue Board of Malaysia to develop the e-invoice system.
The audience was told that this development is a watershed moment that signifies the entry into an era of digitalization and all taxpayers have to adapt and adopt the requirements of the digital electronic transaction age.
The e-invoicing initiative is supported by the use of TIN (Tax Identification Number), which was introduced in Malaysia in 2022 by the tax authority.
