Govt to implement 2 initiatives to ensure sustainable revenue - Tengku Zafrul
Bernama
October 7, 2022 17:55 MYT
October 7, 2022 17:55 MYT
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the Inland Revenue Board (IRB) will be implementing the e-invoice system in phases starting from 2023 through pilot projects involving selected taxpayers. - Freeimages
KUALA LUMPUR: The government is implementing two initiatives to improve the efficiency of tax administration and ensure a sustainable source of revenue to finance the national expenditure.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said Inland Revenue Board (IRB) will be implementing the e-invoice system in phases starting from 2023 through pilot projects involving selected taypayers.
Meanwhile, the Tax Identification Number (TIN) has already been implemented to expand the tax base.
"Starting from 2023, individual residents and permanent residents who have reached the age of 18 will be automatically given a TIN and the use of a TIN is mandatory for the stamping of documents and instruments,'' he added.
-- BERNAMA