IRB UNCOVERS RM1.4 BILLION IN UNREPORTED INCOME VIA E-INVOICE CHECKS

PUTRAJAYA, Feb 3 (Bernama) -- The Inland Revenue Board (IRB) has detected RM1.4 billion in unreported income following audit checks and enforcement actions carried out under the e‑Invoice system, which began on Aug 1, 2024.

In a statement today, the IRB said it had identified over 500,000 potential cases demonstrating high financial capability with no matching tax records, including unreported income.

“The IRB has conducted audit checks and issued reminders to encourage taxpayers to voluntarily declare any non-compliance or errors in their tax information.

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“A total of 17,188 taxpayers previously found non-compliant in submitting their income tax return forms (BNCP) have come forward to file them, reporting RM1.4 billion in income for the past assessment year, which contributed RM290 million to tax revenue,” said the IRB.

According to the IRB, the implementation of e-Invoice system has seen 184,325 taxpayers submitting 979 million e-invoices to date.

The development reflects strong acceptance of e-invoices among taxpayers, including micro, small, and medium enterprises, as part of efforts to digitise business operations and maintain systematic records of transactions for both sellers and buyers.

“With a combination of data-driven approaches and the latest technology, the IRB will continue to ensure that taxes are collected fairly and equitably, while detecting non-compliance,” said the statement.

All taxpayers are reminded to ensure that the tax information they submit is accurate, complete, and up to date to avoid heavier penalties and legal action under the Income Tax Act 1967.

--BERNAMA