The Inland Revenue Board (IRB) has detected RM1.4 billion in unreported income through enforcement and audit measures following the implementation of the e-Invoicing system on August 1, 2024.
In a statement today, the IRB revealed that over 500,000 potential cases were identified showing high financial capabilities that did not match existing tax records, including individuals with no prior record of income reporting.
Following audit reviews and reminders, 17,188 taxpayers who previously failed to submit Income Tax Return Forms (BNCP) came forward to report past income totaling RM1.4 billion. This resulted in a tax collection of RM290 million for the nation.
Since its launch, 184,325 taxpayers have issued a total of 979 million e-Invoices. This shows a positive adoption rate among taxpayers, including MSMEs, towards digitalization, ensuring more organized transaction records for both sellers and buyers.
The IRB emphasized its commitment to using data-driven approaches to ensure tax fairness. Taxpayers are reminded to provide accurate and complete information to avoid heavy penalties under the Income Tax Act 1967.
