KUALA LUMPUR, Oct 21 (Bernama) — The Inland Revenue Board (LHDN) has received more than 2.09 billion e-invoices since the digital transformation initiative was introduced in stages nationwide. The figure reflects the business community’s adoption of a more systematic and transparent method of transaction reporting. Director of Policy and Compliance Section within the LHDN Tax Operations Sector’s E-Invoice Division, Mohd Syazli Mokthar, said the initiative was now in its third year and had involved more than 269,000 taxpayers. “The comprehensive data collected through this e-invoice platform is vital in helping the administration understand the economic structure and current market transaction […]

KUALA LUMPUR, Oct 4 (Bernama) — A refined sales and services tax (SST) system incorporating measures to minimise tax cascading, broaden the tax base and strengthen compliance could help create a more neutral and efficient tax environment for businesses, according to EY Malaysia’s Tax Managing Partner Farah Rosley. In particular, targeted business-to-business reliefs and refinements to existing exemption mechanisms could reduce tax costs that build up within supply chains while preserving SST as a tax on final consumption. However, she said any changes should be implemented with clear policy guidance, adequate consultation and sufficient transition time to allow businesses to […]

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