KUALA LUMPUR: The government has taken the initiative to create the tax identification number (TIN) and e-invoice to overcome revenue leakage and redu...
: The government has taken the initiative to create the tax identification number and e-invoice to overcome revenue leakage and reduce the size of the shadow economy in Malaysia.
“We know the implementation of GST can reduce 10 per cent of the shadow economy but we don’t think there will be GST this year or next year. There is no announcement yet,” he told reporters after launching the KOCEK Coin Exchange Service . However, he said for the period from 2010 to 2019, the size of the shadow economy has been reduced to 21.2 per cent due to the implementation of GST from 2015 to 2018.
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