E-invoice, tax identification number initiatives crucial to overcoming leakages - tax expert

KUALA LUMPUR: The government’s move to introduce several tax initiatives, including e-invoice and the Tax Identification Number (TIN), is crucial in overcoming the leakages involving parties who do not want to pay taxes.

PricewaterhouseCoopers Taxation Services Sdn Bhd’s partner, Jagdev Singh, said that even though some people look at the implementation of the initiative as trivial, if implemented correctly and the data obtained can ensure that each party pays the correct tax rate, then it is better than trying to introduce a new tax.