13/07/2026

BIZ & FINANCE MONDAY | JULY 13, 2026

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Opportunity to rectify e-invoice issues DESPITE the introduction of the e invoice for business that com menced on Aug 1, 2024, beginning progressively from large case as businesses may encounter situations where systems were not updated timely, certain trans actions were not considered invoices, submitted e-invoices con taining errors or incorrect inform ation, or otherwise failed to comply with the prescribed e-invoice requirements. possible. By doing so, any errors or non-compliance will be confined to a shorter period, from the commencement of your e-invoicing implementation up to the present date. with the specification and require ments prescribed under the relevant tax legislation, e-Invoice general guidelines and specific guidelines. The voluntary disclosure must not involve any fraudulent dis closure.

during initial implement ation, or new business arrangements arose after implementation. As a result, businesses may unintentionally have e-invoice compliance gaps despite their efforts to comply with the requirements.

enterprises to enter-prises whose annual turnover exceeds RM5 million, many of them continue to face practical challenges in understanding the correct e-invoice treat ment for their daily trans actions.

Common errors Numerous errors are committed by taxpayers, and the most common error is misunderstanding of self billing. At the moment, it has been used as default items or as a “dumping yard” where you cannot find a home for certain expenses. The other common errors are dealing with employee expenses, claims, sales commission paid to employees and/or third parties, rental and utility payments re imbursed or paid by tenants, dividend distributions, importation of goods verus importation of services, disbursements versus re imbursements, etc. Why enter the SVDP now? It is advisable to identify and rectify any e-invoicing gaps as early as

Delaying the review may result in the same errors continuing over a longer period, increasing the number of affected transactions and making the rectification process more complex and time-consuming. Taking proactive steps now will help minimise future compliance risks and ensure your e-invoicing pro cesses remain aligned with the requirements of the Inland Revenue Board (IRB). The SVDP should therefore be viewed as an opportunity for businesses to correct past issues while strengthening their internal processes and ensuring future e invoice compliance. When can an SVDP submission be invalidated? The SVDP submission must comply

Leader Energy breaks ground on large-scale solar project in Kedah PETALING JAYA: Leader Energy Group Bhd recently broke ground on Leader Solar Energy III (LSE III), its 99MWac large-scale solar project in Baling district, Kedah. Awarded under Malaysia’s Large-Scale Solar 5+ Programme (LSS5+), the project is being developed by Leader Energy’s wholly owned subsidiary, Leader Solar Energy III Sdn Bhd. It builds on Leader Energy’s strong track record in Kedah, where the group successfully developed LSE (38MWp) and LSE II (29.4MWp) under the first LSS programme in 2018 and 2019. Scheduled to commence operations in 2027, LSE III will contribute additional renewable energy capacity to Malaysia’s national grid while supporting the objectives of the National Energy Transition Roadmap. Leader Energy executive deputy chairman and group CEO Datuk Sean H’ng said, “Today’s ground breaking marks an important milestone for Leader Energy as we begin construction of LSE III. This project reflects our continued com mitment to supporting Malaysia’s energy transition through reliable, high-quality renewable energy infrastructure. “As we move into the next phase, our priority is clear – to deliver LSE III safely, efficiently and on schedule.” Backed by more than 30 years of experience in the power industry, the group remains com mitted to delivering reliable, sus tainable infrastructure that streng thens regional energy security, accelerates decar-bonisation and creates long-term value for its stakeholders. It is also unlikely that the IRB will waive any penalties imposed for such non-compliance. This article is contributed by Thannees Tax Consulting Services Sdn Bhdmanaging director SM Thanneermalai (www.thannees.com). Post-SVDP (from Jan 1, 2028) Following the expiry of the e-invoice SVDP, it is expected that the IRB will adopt a stricter enforcement approach towards e-invoice compliance. Taxpayers who fail to comply with the e-invoicing requirements may be subject to compliance reviews and penalties in accordance with the applicable tax laws.

The main challenge is that e invoicing is not simply a re placement for existing invoices. Different transactions may require different e-invoice treatments depending on the nature of the transaction, whether it relates to sales, expenses, payments, receipts or specific business arrangements. Businesses would have achieved seamless compliance if their accounting systems had accurately incorporated the e-invoice require ments and subsequent updates. However, this may not always be the

Timely help from the government The government has to be lauded for its generous offer to taxpayers by providing 18 months of Self Voluntary Disclosure Programme (SVDP) up to Dec 31, 2027. Taxpayers are given an opportunity to review, correct and regularise their e-invoice compliance issues without the imposition of penalties, subject to meeting the prescribed conditions. This applies to taxpayers who have failed to issue required e

New Penang facility enhances Setsco QAV’s capabilities PETALING JAYA: Singapore’s Vicom Ltd has announced the opening of Setsco QAV’s new facility in Bayan Lepas, Penang, strengthening its electrical and electronics (E&E) testing capabilities and expanding its presence in Malaysia and the region’s fast-growing high-tech manu facturing sector.

Setsco QAV is a joint venture between Vicom’s wholly owned subsidiary Setsco Services Pte Ltd and Malaysia-based QAV Technologies Sdn Bhd. The facility was inaugurated by Penang Chief Minister Chow Kon Yeow, alongside InvestPenang CEO Datuk Loo Lee Lian, underscoring the importance of the investment to Penang’s industrial and high-tech manufacturing ecosystem. Strategically located in Penang’s key industrial hub, the facility is designed to support electronics and high-tech manufacturers with reliable testing services, faster turnaround times and greater access to inter nationally recognised compliance and certification support. The expansion is part of Vicom’s broader strategy to grow beyond its core vehicle inspection business and build deeper capabilities in higher value testing segments. Through Setsco QAV, Vicom is better positioned to support manufacturers across Malaysia and the wider region as demand for product safety, reliability and regulatory compliance continues to rise. The Penang facility offers a comprehensive suite of E&E testing

From left: Setsco QAV general manager Tham Hoong Sheng, ComfortDelGro Group CEO Cheng Siak Kian, Chow, See and Loo at the launch of the new facility.

well placed to support customers from product development through to market access.” QAV Technologies managing director Dr John See Keat Siang said: “This facility represents a com mitment to strengthening Malaysia’s industrial and testing capabilities, and gives local and regional manu facturers better access to inter nationally recognised testing ser vices. “We are proud to partner with Setsco to deepen these capabilities, serving as a key hub for electronics and high-tech manufacturing.”

inspection business. Through Setsco QAV, we are combining Singapore and Malaysia’s complementary strengths to support manufacturers as they navigate increasingly complex regulatory, quality and reliability requirements across the region.” Setsco acting CEO Ng Soon Lee said: “The new Penang facility en hances our ability to serve manu facturers with reliable, high-quality electrical and electronics testing solutions that meet increasingly stringent global standards. “With expanded capabilities and faster turnaround times, Setsco QAV is

services across the product develop ment lifecycle, including electro magnetic compatibility and radio frequency testing, electrical safety and energy efficiency testing, over the-air (OTA) antenna measurement, and acoustic measurement. It also houses Singapore and Malaysia’s only third-party commercial OTA facility, providing manufacturers with a critical capability for devices with OTA receivers. Vicom CEO Sim Wing Yew said: “This marks an important step in Vicom’s strategy to grow in high-value testing sectors beyond our vehicle

AirAsia and Tourism Authority of Thailand strengthen strategic partnership PETALING JAYA: AirAsia Group Bhd and the Tourism Authority of Thailand (TAT) have strengthened their long standing partnership through the signing of a memorandum of understanding to jointly promote Thailand as one of the region’s leading travel destinations. The three-year collaboration, spanning 2026 to 2029, marks a shared commitment to boost tourism, strengthen regional connectivity and inspire more travellers to discover the many experiences Thailand has to offer. AirAsia and TAT will work together on integrated promotional initiatives, leveraging marketing, communications and tourism platforms to elevate Thailand’s destination appeal and support continued visitor growth across key markets. They will also work closely to support the promotion of existing and new routes while exchanging market insights to better understand evolving travel trends and unlock new opportunities for tourism growth. AirAsia Group currently operates 123 weekly flights between Malaysia and Thailand through AirAsia Malaysia and Thai AirAsia, connecting travellers across eight direct routes. From Kuala Lumpur, AirAsia flies to Bangkok (Don Mueang), Chiang Mai, Phuket, Krabi, Hat Yai, from Penang to Bangkok and Phuket, and from Johor Bahru to Bangkok.