Ahmad Maslan: Tax identification number, e-invoice to address revenue leakage, reduce size of shadow economy

KUALA LUMPUR, Oct 17 — The government has taken the initiative to create the tax identification number (TIN) and e-invoice to overcome revenue leakage and reduce the size of the...

Deputy Minister of Finance I Datuk Seri Ahmad Maslan said the two methods are to replace the goods and services tax . — Bernama picKUALA LUMPUR, Oct 17 — The government has taken the initiative to create the tax identification number and e-invoice to overcome revenue leakage and reduce the size of the shadow economy in Malaysia.

“How do we reduce the size of the shadow economy? We do it by introducing e-invoice, as announced under Budget 2024. Ahmad said from 2000 to 2009, the estimated size of the shadow economy was 30.2 per cent of gross domestic product . Pertama Digital initiated the innovative Kocek service to stimulate the circulation of unused coins among Malaysians.

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