Latest news with #e-Invoice
Daily Express
a day ago
- 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
2 days ago
- 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
2 days ago
- 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.
The Star
3 days ago
- Business
- The Star
E-invoicing deadlines for businesses with revenue below RM5mil revised, says LHDN
KUALA LUMPUR: The Inland Revenue Board (LHDN) on Thursday (June 5) announced that the implementation phase for e-invoices for taxpayers with annual income or sales exceeding RM1mil but not exceeding RM5mil has been postponed to Jan 1, 2026. In a statement, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. "The implementation phase for taxpayers with annual income or sales up to RM1mil has been postponed to July 1, 2026," LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5mil but not exceeding RM25mil coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1mil up to RM5mil and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1mil and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the "Product or Service Description" field. "If there is a request for an e-Invoice from the buyer, the seller is also allowed to issue only a consolidated e-Invoice without issuing one for each transaction," the statement said. LHDN also said that during this grace period, no prosecution will be initiated under Section 120 of the Income Tax Act 1967 for non-compliance with e-Invoice regulations, provided taxpayers adhere to the consolidated e-Invoice requirements. "Furthermore, starting Jan 1, 2026, taxpayers involved in e-Invoice implementation must issue an e-Invoice for every sale of goods or provision of services exceeding RM10,000, and consolidated e-Invoicing will no longer be permitted," the statement added. For any inquiries regarding the system's implementation, the public may contact LHDN offices, the e-Invoice Help Desk at 03-8682 8000, MyInvois Live Chat, email myinvois@ or submit a query through the MyInvois Customer Feedback Form at - Bernama
Barnama
3 days ago
- Business
- Barnama
e-Invoice Implementation For Revenue Below RM5 Mln Deferred To Jan 1, 2026
KUALA LUMPUR, June 5 (Bernama) -- The Inland Revenue Board (LHDN) today announced 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. In a statement here, LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system. "The implementation phase for taxpayers with annual income or sales up to RM1 million has been postponed to July 1, 2026," LHDN said. The board added that the decision was made after the government recognised the commitments of taxpayers, particularly Micro, Small, and Medium Enterprises (MSMEs), in meeting e-invoice legal requirements, which necessitate adequate preparation time and face numerous implementation challenges. The statement said that, in line with this decision, a new timeline for the e-invoice implementation phases has been established with Phase 3 targeting taxpayers with annual income or sales exceeding RM5 million but not exceeding RM25 million coming into effect on July 1, 2025. LHDN noted that Phase 4 will involve taxpayers with annual incomes or sales exceeding RM1 million up to RM5 million and will begin on Jan 1, 2026 while Phase 5 will cover the income group of up to RM1 million and will commence on July 1, 2026. The previously announced six-month grace period will also apply to these new phases, the agency said. It stressed that during this period, taxpayers will be permitted to issue consolidated e-invoices for all transactions, including self-billed e-invoices. Necessary details, it said, can be included in the 'Product or Service Description' field.
