Introduction to E-Invoice Malaysia

Which organization implemented the Malaysian Income Tax Reporting System (MITRS) to facilitate the electronic submission of tax working sheets?

• Ministry of Finance (MoF)

• Inland Revenue Board of Malaysia (IRBM)

• Securities Commission Malaysia (SC)

Which platform serves as the online portal for the electronic submission of tax worksheets in Malaysia?

• Malaysia Tax Online (MTO)

• Malaysian Income Tax Reporting System (MITRS)

• Electronic Tax Submission Platform (ETSP)

Which of the following is NOT a reason to use the Malaysian Income Tax Reporting System (MITRS)?

• Avoid computation errors and delays in submitting documents.

• Saves costs and provides management of documents.

• Increase paperwork and administrative burden.

How does the implementation of e-invoicing contribute to the Malaysian government's strategy to comply with Environmental, Social, and Governance (ESG) disclosure and reporting globally, especially regarding tax transparency?

• By increasing paperwork and administrative burden.

• By reducing transparency in financial reporting.

• By providing a digital trail of transactions, enhancing tax transparency and compliance.

Which statement about e-Invoice is FALSE?

• An e-Invoice is a digital representation of a transaction between a supplier and a buyer.

• E-Invoice replaces paper or electronic documents such as invoices, credit notes, and debit notes.

• E-Invoice increases the use of paper documents in business transactions.

Which of the following is exempt from implementing e-invoicing?

• Government authorities

• Private corporations

• Individual freelancers

• International trading companies in Malaysia

Who is subject to e-invoicing?

• Only large multinational corporations

• Small and medium-sized enterprises (SMEs) only

• All entities doing business in Malaysia

• Non-profit organizations only

Implementation timeline mandatory enforcement for all businesses

• 1st July 2025

• 1st January 2025

• 1st August 2024

• 1st August 2025

What is the impact of e-invoicing on companies and businesses in Malaysia?

• Promotes good governance

• Increases tax transparency

• Supports environmental sustainability

• All of the above

What are the penalties for non-compliance with e-invoicing regulations in Malaysia?

• A fine of RM10

• A warning letter

• A fine of not less than RM200 and not more than RM20,000 or imprisonment for not more than 6 months or both

• No penalties