All business activities / industries are permitted to issue consolidated e-invoices, including self-billed invoices. If there is an e-Invoice request from the buyer, the seller is also allowed to only issue a consolidated e-Invoice without issuing an e-Invoice for each transaction. In other words, seller is not required to issue an e-invoice. IRB allows any transaction description to be entered in the “Product or Service Description” field. There would be no prosecution action under Section 120 of the Income Tax Act 1967 against non-compliance with the e-Invoicing rules provided that the taxpayer has complied with the consolidated e-Invoicing requirements. The reduction in the capital allowance claim period will be given for the purchase of ICT equipment and computer software packages with effect from the Year of Assessment 2024 to 2025.The 6-month grace period initiative announced by the IRB is welcomed, as it offers temporary relief to taxpayers and gives them the necessary time to adapt to the new e-invoicing system without facing immediate penalties! 
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