66,000 E-Commerce Businesses Lack Tax Payment Compliance, Reporting Records - IRB

PUTRAJAYA, March 4 (Bernama) -- The Inland Revenue Board (IRB) has identified 66,000 businesses on e-commerce platforms that do not have or comply with the estimated tax installment payments under the Income Tax Act 1967.

In a statement today, the IRB said this was detected through the submission of e-invoices, which contain details of individuals and companies operating through e-commerce platforms since Aug 1, 2024.

“Checks also found no records of these businesses’ submission of income tax return forms.

“The 66,000 businesses have issued a total of four million e-invoices,” the statement said.

The IRB urged these businesses to regularly update their tax records and ensure full compliance to avoid enforcement actions.

“With the implementation of e-Invoice, the IRB actively monitors taxpayer data that has been verified in the MyInvois system to ensure voluntary and continuous tax compliance, in line with the principles of fairness in the country’s taxation system,” it said.

As of March 3, the IRB reported that approximately 196 million e-invoices have been issued, covering voluntary participants from the first, second and third phases.

“This indicates a positive level of acceptance among taxpayers in complying with the e-invoicing system.

“The IRB also wishes to inform that the grace period for Phase One taxpayers ended on Jan 31, 2025, and they are required to fully implement the e-invoicing system according to the guidelines starting Feb 1, 2025,” it said.

-- BERNAMA