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Tax Just Got Easier!

Mar 27, 2023

Tax payers will no longer need to keep hard copies of their invoices, vouchers, and receipts.

It’s because the Inland Revenue Board will introduce “e-invoicing” next year.

The board says the platform will ease the burden of taxpayers, who will be able to keep their records online.

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In a related development, people can no longer claim tax relief for contributions to the SSPN education savings fund starting this year. 

According to the Finance Ministry, it was due to various reasons, such as the expansion of other tax deductions and exemptions under the budget.

This, including the 2% reduction on individual income tax, while the medical expenses tax exemption was increased to 10 thousand ringgit.

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The de-facto Law Minister has tabled four crucial bills in Parliament.

Among them include the bill to abolish the mandatory death penalty.

The bill will instead give judges the choice to impose the death penalty or alternative punishments such as a long jail sentence.

The minister also tabled the Sexual Offences Against Children Bill was also tabled for its first reading.

The amendments will among others make online sextortion involving children a crime.