KUCHING: The Inland Revenue Board (IRB) has registered 7.8 million Malaysian citizens with a Tax Identification Number (TIN) so far this year.
The deputy chief executive officer of the Inland Revenue Board Hisham Rusli said the board began implementing the TIN policy last year.
“TIN was launched last year and as of January 1, we completely adopted it. All Malaysians regardless of their employment status must have their TIN.
“We have registered roughly 7.8 million new TINs so far this year. These people have never had a TIN,” he told reporters during a discussion on the e-invoice system with taxpayers and business leaders at a prestigious hotel here yesterday.
Hisham said those who wanted to verify their TIN could do so by using the myTax site or by going to the closest IRB office.
In January next year, he said, the e-invoice system would go live with a prototype phase.
During the trial period, he added, businesses with annual revenues of at least RM100 million could voluntarily join the e-invoice system but beginning on June 1 of the next year, they would be required to do so.
“Corporations with yearly revenues of RM50 million and above will be required to use the e-invoice system starting in 2025, while those with annual revenues of RM25 million and above will begin doing so in 2026.
“From 2027, all businesses will have to comply with the mandatory implementation of the e-invoice system,” he continued.
Hisham asserted that ultimately all companies that generated invoices would be included in the e-invoice system.
He explained corporate entities which lacked the infrastructure to send electronic invoices could do so by using the free myTax site.
He emphasised that the goal of the e-invoice system was to streamline taxpayers’ ability to maintain and keep track of their financial data while also better managing their tax administration.
According to him, the installation of such a system is intended to boost digital infrastructure services while also increasing the country’s efficiency in tax management administration in accordance with the 12th Malaysia Plan from the years 2021 to 2025.
