Hey everyone!
Welcome back to Taxation with Sarah! Exciting news from the Malaysian Inland Revenue Board! They’ve announced a six-month relaxation period for businesses to comply with the issuance of e-Invoices. 📄✨
Here’s what you need to know:
• Key Benefits:
1. Issue consolidated e-invoices and submit them within 7 days of the following month. Applies to all industries and transaction types.
2. No prosecution or penalties during this period.
3. Flexibility in writing product/service descriptions in the Myinvois portal.
4. No need to issue normal e-invoices, even if requested.
5. Early compliance rewards: Shortened capital allowance claiming period from 3 years to 2 years for ICT equipment and software.
We encourage you to implement e-invoicing early and make the most of this period to get ready for full compliance.
Watch the video below for more details! 🎥👇
Stay tuned for more updates by following our page! 📲✨
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