Prepare for electronic invoicing early, KPMG advises Malaysian businesses
KPMG in Malaysia's Head of Tax, Soh Lian Seng highlighted that e-invoicing will improve tax compliance and data transparency as invoices are much more standardized through this system. His inputs were captured by media outlets, as he recommends the government to consider developing a free e-invoicing platform for small to medium enterprises (SMEs).
“This will allow SMEs to reduce their business costs of investing in new technology and processes, while also ensuring that SMEs’ digitization of applications are standardized,” he notes.
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