malaysiang
CYBERJAYA, The Inland Revenue Board (IRB) will exercise its authority under the provisions of the law if necessary to take enforcement action, including conducting raids, against any individuals or companies identified as evading taxes.
Its chief executive officer Datuk Dr Abu Tariq Jamaluddin said it had specific methods for identifying tax-evading companies based on research and information received from various sources.
“Only cases identified as requiring raids will undergo them, but cases with low risks will undergo audits,” he told reporters at the Aidilfitri reception of the organisation here today.
Commenting on the implementation of the pilot project for the electronic invoice system (e-Invoice), Abu Tariq said the system will be fully operational by July 2025.
During this period, he said the IRB will assist small and medium enterprises (SMEs), including the use of a free portal, as well as raising awareness and providing education.
A total of 4,000 companies with incomes of more than RM100 mill
ion are targeted to be the first group involved in the implementation of e-Invoice which will be implemented starting Aug 1.
Companies with annual incomes or sales exceeding RM25 million and up to RM100 million will start using e-Invoices on Jan 1, 2025.
Source: BERNAMA News Agency
