CYBERJAYA, July 26 — The government has agreed to give six-month flexibility to taxpayers from the date of mandatory implementation of e-Invoicing which started on August 1, said...
Springy pork tendons and lots of garlic play starring roles in the ‘bak kut teh’ at Kepong’s Lieong Kee Bae Good TehThe IRB announced that the first phase of e-Invoicing will start on August 1 involving companies with annual income or sales exceeding RM100 million.
Abu Tariq said the IRB allows any transaction description to be entered in the “Product or Service Description” field, and if there is an e-Invoice request from the buyer, the seller is also allowed to only issue a consolidated e-Invoice without issuing an e-Invoice for each transaction. “This period of flexibility is expected to give taxpayers enough time to ensure the full implementation of e-Invoicing which is more effective. It covers all aspects such as system availability, smooth business operations and change of management in business,” he said.
He said the reduction in the capital allowance claim period will be given for the purchase of ICT equipment and computer software packages with effect from Assessment Year 2024 to AY 2025.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
– IRB on track to implement e-invoicing on Aug 1THE Inland Revenue Board (IRB) is working extremely hard to ensure that companies with annual turnover exceeding RM100 million will be able to comply ...
Read more »
Puspakom outlines new e-invoicing, tax identification number requirements; TIN implementation to start today• Individuals and private customers do not require a TIN for Puspakom booking • NRIC is sufficient for booking purposes for individuals • TIN is equivalent to...
Read more »
e-Invoicing: Puspakom says tax identification number must be provided for all transactions from July 25Puspakom has announced that from July 25, 2024, all customers wanting to carry out any vehicle inspection or checks at its branches or make payment transactions online via MyPuspakom will need to furnish their tax …
Read more »
SMEs face hurdles ahead of mandatory e-invoicing ruleGOTHENBURG, Sweden (Reuters) - European champions England withstood a second-half barrage to grab a 0-0 draw with Sweden in Group A3 and qualify for Euro 2025, with the Swedes heading for the playoffs after finishing third in the pool.
Read more »
SMEs face hurdles ahead of mandatory e-invoicing ruleGOTHENBURG, Sweden (Reuters) - European champions England withstood a second-half barrage to grab a 0-0 draw with Sweden in Group A3 and qualify for Euro 2025, with the Swedes heading for the playoffs after finishing third in the pool.
Read more »
Groups welcome offer of leniency for e-invoicing hiccupsGOTHENBURG, Sweden (Reuters) - European champions England withstood a second-half barrage to grab a 0-0 draw with Sweden in Group A3 and qualify for Euro 2025, with the Swedes heading for the playoffs after finishing third in the pool.
Read more »