Latest news with #HASiL
Borneo Post
2 hours ago
- Business
- Borneo Post
MICSEA welcomes e-invoicing exemption for businesses below RM500,000 annual income
Lai says this would give more time to MSMEs to prepare for the implementation of the mandatory e-invoicing system for businesses. – Stock photo from Pixabay KUCHING (June 7): The Malaysian Industrial, Commercial and Service Employers Association (MICSEA) welcomes the government's decision to exempt businesses with an annual income of RM500,000 and below from the e-invoicing requirements. Its president YK Lai said this would give more time to micro, small and medium enterprises (MSMEs) to prepare for the implementation of the mandatory e-invoicing system for businesses. He was delighted that the Inland Revenue Board of Malaysia (HASiL) understands the difficulties MSMEs face in implementing the e-invoicing system, especially due to limited time and insufficient tools in terms of management. 'This change is expected to bring immediate relief to more than 90,000 additional micro and small enterprises, bringing the total number of exempted businesses to approximately 790,000, representing Malaysia's smallest and most vulnerable traders,' he said in a statement yesterday. Lai said MICSEA regarded this as a major step forward in reducing any management burden on MSMEs who may not have the digital infrastructure or resources to handle complicated invoicing requirements. For businesses with an income of RM500,000 and above, he noted that HASiL continues to show leniency by extending the grace period. According to him, businesses earning RM5 million to RM25 million in annual revenue must implement e-invoicing by July 1 this year. 'Businesses with RM1 million to RM5 million in annual revenue now have until Jan 1 next year, while businesses earning up to RM1 million annually will follow suit by July 1 next year.' Even during the extended grace period, Lai believed that employers benefit from greater flexibility as they can continue using consolidated e-invoices for employee reimbursements, client billing, and vendor payments. He said they are not required to issue individual invoices unless requested by the buyer and no enforcement action will be taken under Section 120 of the Income Tax Act 1967, as long as basic consolidated invoicing rules are followed. 'This is a timely and considerate move by the government, and MICSEA fully supports this decision especially as many employers are still recovering from post pandemic financial strain. 'These updated exemptions and deadlines allow more room for businesses to invest in the right tools to manage implementation of the system without the pressure of sudden compliance obligations,' he added. e-invoicing exempt lead MICSEA
Barnama
2 days ago
- Business
- Barnama
Tax Digitalisation To Simplify Taxpayers' Affairs, Increase Compliance
GENERAL KUALA LUMPUR, June 5 (Bernama) -- The initiative by the Malaysian Inland Revenue Board (IRB) in driving comprehensive digital transformation will simplify taxpayers' affairs nationwide, thereby increasing compliance levels. Its Chief Officer of Operations, Marsidi Zelika, said that the digital transformation does not only focus on migrating services to online platforms, but also involves 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 to enable taxpayers to manage their tax affairs quickly, easily and securely without having to go to the counter,' he said. He said this when appearing as a guest on Bernama TV's Ruang Bicara programme, with the title 'Digitalisation of HASiL: Simplifying Taxpayer Affairs', last night. He said that the digital system, such as e-Filing, which is equipped with automatic calculation and final review functions, helps users avoid common mistakes such as incorrect tax calculations and incomplete data. 'The data integration function, automatic verification and the use of a single identity-based system through MyTax ensure that taxpayers' information is consistent and easy to track,' he said, adding that the system is also linked to Monthly Tax Deduction (PCB) information from employers. Touching on the latest initiative, Marsidi said the implementation of e-Invoice, which started in August last year in phases, has received an encouraging response from the public, especially small and medium-sized businesses. 'As of June 4, 2025, 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 said. According to him, the implementation of e-Invoice does not just replace printed invoices, but also opens up opportunities for Micro, Small and Medium Enterprises (MSMEs) to restructure their business accounting systems more systematically and effectively.
Barnama
2 days ago
- Business
- Barnama
HASiL Ramps Up International Efforts To Tackle Tax Evasion
KUALA LUMPUR, June 4 (Bernama) -- The Inland Revenue Board (HASiL) is stepping up its global cooperation to track down taxpayers who fail to comply, including those transferring assets or income overseas. Its Intelligence and Profiling Department director Muhammad Azhari Tamrin @ Thamrin told Bernama Radio that the agency is harnessing international tools, such as the Exchange of Information (EOI) and the Common Reporting Standard (CRS), to access financial data shared by foreign authorities. 'Tax evaders are becoming increasingly sophisticated. They shift profits offshore, set up offshore companies and use international bank accounts. These are tactics that conventional methods struggle to detect,' he said. In response, HASiL has taken proactive steps by deepening partnerships with tax authorities abroad to share information and trace these financial footprints more effectively. Speaking on the radio programme POV: Perspektif Bukan Persepsi, hosted by Kamal Affandi Hashim and focused on tax evasion, Muhammad Azhari explained that Malaysia's participation in the Forum on Tax Administration and the ASEAN network has helped it adopt best practices and strengthen its capacity through big data analytics and risk profiling. Alongside enforcement efforts, HASiL has also rolled out public education campaigns and adopted a 'Compliance Before Enforcement' approach to encourage voluntary tax compliance. Social media, he added, is an increasingly valuable resource in uncovering suspicious financial activity. 'We analyse lifestyles displayed online and compare them with declared incomes, looking out for undeclared businesses, hidden assets and social or business networks,' he noted. Where discrepancies emerge, he said HASiL will conduct audits and investigations, actions that are targeted and data-driven rather than arbitrary. Muhammad Azhari also urged the public to act as watchdogs, encouraging them to report individuals or companies that live beyond their declared means or operate without proper registration.
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
HASiL ramps up international efforts to tackle tax evasion
THE Inland Revenue Board (HASiL) is stepping up its global cooperation to track down taxpayers who fail to comply, including those transferring assets or income overseas. Its Intelligence and Profiling Department director Muhammad Azhari Tamrin @ Thamrin told Bernama Radio that the agency is harnessing international tools, such as the Exchange of Information (EOI) and the Common Reporting Standard (CRS), to access financial data shared by foreign authorities. 'Tax evaders are becoming increasingly sophisticated. They shift profits offshore, set up offshore companies and use international bank accounts. These are tactics that conventional methods struggle to detect,' he said. In response, HASiL has taken proactive steps by deepening partnerships with tax authorities abroad to share information and trace these financial footprints more effectively. Speaking on the radio programme POV: Perspektif Bukan Persepsi, hosted by Kamal Affandi Hashim and focused on tax evasion, Muhammad Azhari explained that Malaysia's participation in the Forum on Tax Administration and the ASEAN network has helped it adopt best practices and strengthen its capacity through big data analytics and risk profiling. Alongside enforcement efforts, HASiL has also rolled out public education campaigns and adopted a 'Compliance Before Enforcement' approach to encourage voluntary tax compliance. Social media, he added, is an increasingly valuable resource in uncovering suspicious financial activity. 'We analyse lifestyles displayed online and compare them with declared incomes, looking out for undeclared businesses, hidden assets and social or business networks,' he noted. Where discrepancies emerge, he said HASiL will conduct audits and investigations, actions that are targeted and data-driven rather than arbitrary. Muhammad Azhari also urged the public to act as watchdogs, encouraging them to report individuals or companies that live beyond their declared means or operate without proper registration. 'Tax evasion not only drains public funds but also undermines fairness for honest taxpayers,' he said. Information can be submitted securely through HASiL's e-Tax Evasion Reporting System at with protections under the Income Tax Act 1967. Convicted tax evaders risk penalties of up to 300 per cent of the owed tax, fines of up to RM20,000, imprisonment of up to three years, or both. 'Fighting tax evasion is a shared responsibility. It is essential to ensure that national revenue is collected fairly for the benefit of all Malaysians,' said Muhammad Azhari. — BERNAMA
The Sun
3 days ago
- Business
- The Sun
HASiL ramps up international efforts to tackle tax evasion
KUALA LUMPUR: Malaysia's Inland Revenue Board (HASiL) is stepping up its global cooperation to track down taxpayers who fail to comply, including those holding assets or income overseas. Its Intelligence and Profiling Department director Muhammad Azhari Tamrin @ Thamrin told Bernama Radio that the agency is harnessing international tools, such as the Exchange of Information (EOI) and the Common Reporting Standard (CRS), to access financial data shared by foreign authorities. 'Tax evaders are becoming increasingly sophisticated. They shift profits offshore, set up offshore companies and use international bank accounts. These are tactics that conventional methods struggle to detect,' he said. In response, HASiL has taken proactive steps by deepening partnerships with tax authorities abroad to share information and trace these financial footprints more effectively. Speaking on the radio programme POV: Perspektif Bukan Persepsi, hosted by Kamal Affandi Hashim and focused on tax evasion, Muhammad Azhari explained that Malaysia's participation in the Forum on Tax Administration and the ASEAN network has helped it adopt best practices and strengthen its capacity through big data analytics and risk profiling. Alongside enforcement efforts, HASiL has also rolled out public education campaigns and adopted a 'Compliance Before Enforcement' approach to encourage voluntary tax compliance. Social media, he added, is an increasingly valuable resource in uncovering suspicious financial activity. 'We analyse lifestyles displayed online and compare them with declared incomes, looking out for undeclared businesses, hidden assets and social or business networks,' he noted. Where discrepancies emerge, he said HASiL will conduct audits and investigations, actions that are targeted and data-driven rather than arbitrary. Muhammad Azhari also urged the public to act as watchdogs, encouraging them to report individuals or companies that live beyond their declared means or operate without proper registration. 'Tax evasion not only drains public funds but also undermines fairness for honest taxpayers,' he said. Information can be submitted securely through HASiL's e-Tax Evasion Reporting System at with protections under the Income Tax Act 1967. Convicted tax evaders risk penalties of up to 300 per cent of the owed tax, fines of up to RM20,000, imprisonment of up to three years, or both. 'Fighting tax evasion is a shared responsibility. It is essential to ensure that national revenue is collected fairly for the benefit of all Malaysians,' said Muhammad Azhari.
