CYBERJAYA, July 28 — The government has announced a six-month grace period for taxpayers to comply with the mandatory e-Invoicing system, which officially begins on August 1, according to Inland Revenue Board (IRB) CEO Datuk Abu Tariq Jamaluddin. This extension aims to facilitate a smoother transition to the new system by allowing taxpayers to issue consolidated e-Invoices and avoid immediate prosecution for non-compliance during this period.
The IRB has also introduced additional incentives for early adopters, including a reduction in the capital allowance claim period from three years to two years for the purchase of ICT equipment and computer software packages, effective from Assessment Year (AY) 2024 to AY 2025. The first phase of e-Invoicing will apply to companies with annual revenues exceeding RM100 million, with a second phase targeting those with revenues between RM25 million and RM100 million.
