Ah I see. I wonder if it’s a lingering effect of GST. I recall many medicine shops had to close down as the GST made things too convulated for the elderly shopkeepers.
It’s easier to track the “underground economy” with GST or e-invoicing. Some shady businesses might have closed because Customs and IRB are involved in the GST system. Since we can’t touch GST now, this govt plan to introduce e-invoice in stages, which should have a similar effect.
Ah I see. I wonder if it’s a lingering effect of GST. I recall many medicine shops had to close down as the GST made things too convulated for the elderly shopkeepers.
It’s easier to track the “underground economy” with GST or e-invoicing. Some shady businesses might have closed because Customs and IRB are involved in the GST system. Since we can’t touch GST now, this govt plan to introduce e-invoice in stages, which should have a similar effect.