Study finds taxpayers at varying readiness for e-Invoicing

Latest survey by KPMG in Malaysia found that while some taxpayers reported that their experience with the transition to e-invoicing implementation somewhat met their expectations, many highlighted areas for improvement. A major challenge identified were the need to incur additional costs for IT upgrading and the necessity for more training of their manpower. Many respondents also emphasized the need for clearer guidelines and additional support from the Inland Revenue Board (HASiL), particularly regarding technical clarifications, business practice requirements and the need to make the MyInvois portal more user-friendly. The survey was conducted at a recent tax forum organized by KPMG in collaboration with HASiL Selangor, which was attended by over 100 senior business executives.

Soh Lian Seng, Head of Tax at KPMG in Malaysia, shared that the study has shown that businesses in the Phase 2 and 3 of the e-invoicing implementation mandate reported that 32 percent are more than 50 percent ready, while 62% are up to 50 percent ready.

"Learning from the experiences by Phase 1 taxpayers, there is a clear need for continued support and clear guidance from HASiL to ensure a smooth transition to full implementation nationwide," said Soh. 

Read the full coverage on Business Today, Focus Malaysia and Berita Harian.

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