PETALING JAYA: To improve the efficiency of the tax system, the government aims to phase in the electronic invoicing system (e-invoicing) starting 2023, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
“E-invoicing will also aid in the implementation of a sustainable electronic business ecosystem, and provides a more reliable audit trail, resulting in increased tax transparency and is viewed as one of the primary strategies for increasing tax revenue,” he said in his speech at the 51st annual meeting of the Study Group on Asia-Pacific Tax Administration and Research (SGATAR) yesterday.
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