Latest news with #ShaharrudyOthman
The Sun
17 hours ago
- Business
- The Sun
Phase three of IRB e-invoice system kicks off today
CYBERJAYA: Phase three of Malaysia's e-invoice system rollout kicks off today, targeting taxpayers with annual revenue between RM5 million and RM25 million. Inland Revenue Board (IRB) deputy chief executive officer (Tax Operations), Shaharrudy Othman, said approximately 55,000 taxpayers are expected to be onboarded in this phase, and expressed confidence that the take-up rate would mirror previous phases. 'Over 5,400 taxpayers adopted the e-invoice system in phase one, which began on Aug 1 last year. Phase two saw about 13,000 taxpayers join the system starting January this year. 'To date, 352 million e-invoices have been submitted. We hope the take-up rate for phase three will be equally strong,' Shaharrudy told a press conference today. The fourth and fifth phases of the rollout will target businesses with annual income between RM1 million and RM5 million starting Jan 1, 2026, and those earning up to RM1 million beginning July 1, 2026. Earlier, IRB also launched the MyInvoice e-POS System, a free digital Point-of-Sale (POS) platform designed specifically for micro, small, and medium enterprises (MSMEs) with annual revenue below RM750,000. The system is built to simplify e-invoice adoption by integrating essential business functions such as sales recording, inventory management, financial reporting, and e-invoice processing. 'This platform aims to help MSMEs enhance their operational efficiency and ease into e-invoicing,' Shaharrudy explained. He also encouraged eligible taxpayers to register with the IRB to take advantage of the MyInvoice e-POS System, which is now available. 'In addition to this, we've developed the MyInvoice Portal, as well as the MyInvoice App, all of which are free and accessible to all taxpayers, particularly to support MSMEs in transitioning to e-invoicing,' he added.
New Straits Times
20 hours ago
- Business
- New Straits Times
E-invoicing Phase 3 begins for businesses earning RM5mil–RM25mil
CYBERJAYA: The Inland Revenue Board of Malaysia (IRB) is accelerating its digital tax compliance drive with the rollout of Phase 3 of e-invoicing today, a move set to impact around 55,000 businesses earning between RM5 million and RM25 million annually. IRB Deputy Chief Executive Officer (Tax Operations) Shaharrudy Othman said the agency is committed to providing continuous support to taxpayers, particularly micro, small and medium enterprises (MSMEs), through various promotional and educational programmes. "IRB is actively stepping up efforts to educate and raise awareness among target groups to ensure that the e-Invoice implementation is comprehensive and effective," he said at the launch ceremony and media conference on the implementation of e-Invoice for Phase 3 held here today. Shaharrudy said a total of 352 million e-invoices have been submitted via the MyInvois system to date. "This involves over 37,800 taxpayers, including about 5,400 taxpayers from Phase 1 and more than 13,000 taxpayers from Phase 2. "Furthermore, over 19,000 taxpayers have voluntarily adopted e-invoicing ahead of their scheduled implementation dates," he said. Last month, IRB announced that Phase 4 of the e-invoice implementation for taxpayers with annual income or sales between RM1 million and RM5 million has been postponed to Jan 1, 2026. Phase 5, involving the income group of up to RM1 million, will commence on July 1, 2026. Meanwhile, taxpayers with an annual income or sales below RM500,000 are exempted from the initiative. Shaharrudy added that the grace period for the implementation of e-invoicing for Phase 2, involving businesses with an annual revenue between RM25 million and RM100 million, had ended on June 3, and taxpayers must now fully comply with the guidelines. "To ensure ongoing support for MSMEs who are starting their e-invoicing implementation from today, IRB has increased the number of briefing sessions and expanded the use of the MyInvois Portal nationwide. "IRB has also created a dedicated e-invoicing microsite on the agency's official portal and is using various communication channels to disseminate relevant information," he said. Shaharrudy said the agency will continue to enhance communication across businesses, tax practitioners, professional bodies and stakeholders to raise awareness and improve their understanding of the benefits of e-invoicing implementation. "To facilitate a smooth implementation, we have also set up dedicated service counters nationwide to assist taxpayers in understanding the use of the MyInvois Portal, MyInvois application and the free-to-use MyInvois e-Pos system," he said. IRB also launched the MyInvois e-Pos system, which is designed for MSMEs with annual income or sales of under RM750,000. Shaharrudy said the system simplifies the implementation of e-invoicing by integrating core business functions such as sales recording, inventory management, financial reporting and e-invoice support. He added that the system also aims to help MSMEs enhance business operational efficiency while facilitating the smooth implementation of e-invoicing.
