Over one billion e-invoices have been issued by 204,928 traders since August 2024, boosting tax compliance and revenue collection.
KUALA LUMPUR: The nationwide e-invoicing initiative has surpassed a major milestone with more than one billion electronic invoices issued to date.
Since its phased implementation began on Aug 1, 2024, a total of 204,928 traders have adopted the system, according to the Ministry of Finance.
The ministry stated that this performance indicates a positive level of acceptance among traders, including small and medium enterprises.
Data from the first two implementation phases has also driven significant tax compliance improvements.
A total of 17,188 previously non-compliant taxpayers have voluntarily submitted overdue income tax return forms.
This voluntary disclosure involved previously undeclared income amounting to RM1.4 billion.
The additional declarations have contributed an extra RM290 million in tax revenue to the government.
The ministry provided these details in a written parliamentary reply to Richard Rapu @ Aman Anak Begri.
The Betong MP had inquired about the impact of e-invoicing on tax collection efficiency and fiscal governance.
He also sought justification for raising the mandatory implementation threshold to RM1 million annual turnover starting in 2026.
The MOF noted that a formal post-implementation study on e-invoicing has not yet been conducted.
It explained that the initiative is still in an early stage and a transition period.
“The effectiveness and achievements of the e-Invoicing initiative can only be determined once it is fully implemented by all involved traders,” the ministry said.
