Kota Kinabalu: The Small and Medium Enterprises Association of Malaysia (Samenta) hails the government’s rethink on e-invoicing requirements and hopes that its call for the government’s rethink on stamping of employment contracts will resolve the issue.
The Inland Revenue Board’s (LHDN) has just announced that taxpayers with an annual income or sales below RM500,000 are exempted from the implementation of the e-Invoice system.
This was what Samenta has fought for in the interests of Micro, Small, and Medium Enterprises (MSMEs) in Malaysia, initially just getting a RM150,000 exemption.
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They said the sudden shift from a passive regime to active enforcement, coupled with retrospective audits and penalties, is perceived as punitive rather than developmental.