Urgent.News

What's breaking now, across thousands of outlets.

Business

IRB stresses voluntary participation as government lifts e‑Invoice threshold, easing compliance for MSMEs

KUALA LUMPUR, Aug 31 — Micro, small and medium enterprises (MSMEs) with annual sales of less than RM3 million will not b...

IRB stresses voluntary participation as government lifts e‑Invoice threshold, easing compliance for MSMEs

KUALA LUMPUR, Aug 31 — The Inland Revenue Board (LHDN) has announced that micro, small and medium enterprises (MSMEs) with annual sales under RM3 million will not be obligated to adopt e-Invoicing. This change follows Prime Minister Datuk Seri Anwar Ibrahim's announcement at the 2026 National Day Prime Minister's Address, which raised the e-Invoice implementation threshold from RM1 million to RM3 million, effective Sept 1.

The LHDN highlighted that the decision benefits over 1.1 million businesses that were already exempt. The government's aim is to ease compliance burdens and costs for MSMEs, allowing them to concentrate on sustaining and expanding their operations. The LHDN emphasized its encouragement for voluntary MSME participation in e-Invoice implementation, aligning with Malaysia's digitalization of businesses.

They remain committed to facilitating smooth e-Invoice adoption through educational programs, one-on-one support, and continuous engagement. The agency also provided guides and tutorials on utilizing the MyInvois Portal, MyInvois application, and MyInvois e-POS to improve awareness and comprehension of e-Invoice implementation for MSMEs.

Since e-Invoice implementation commenced on Aug 1, 2024, 265,379 taxpayers have submitted e-Invoices, amounting to more than 1.84 billion e-Invoices. This progress indicates the success of the initiative in garnering support among taxpayers, including MSMEs. Additional information about e-Invoice implementation can be found on the e-Invoice microsite.

Taxpayers can reach out to the LHDN via its dedicated channels, including LHDN offices, the e-Invoice Helpdesk at 03-8682 8000, MyInvois Live Chat, or by email at myinvois@hasil.gov.my. General inquiries can be submitted through the MyInvois Customer Feedback Form.

Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Also reported by 1 other outlet

Read the original at malaymail.com →

More in Business

West Africa: Ghana Plans 1,200 Mw Gas Plant As Power Sector Costs Mount

[Daba Finance] Ghana is moving ahead with a 1,200-megawatt gas-fired power plant as the government seeks to improve electricity supply and reduce costs that continue to weigh on public finances.

  • Ghana constructing 1,200-megawatt gas plant in Kafodzidzi-Abrobeano.
  • First 600-megawatt phase to start in 2028, surpassing Akosombo hydroelectric.
  • Expected 35% to 45% savings by direct equipment purchase.

Nigeria, Canada to Strengthen Trade Relation, as Minister Leads Delegation to Toronto

Emma OKonji The Minister of Arts, Culture, Tourism, and Creative Economy, Hannatu Musawa, has stressed the need for collaboration between Nigeria and Canada, to further strengthen the trade relation…

  • Minister Hannatu Musawa leads delegation to Toronto for Trade and Investment Summit.
  • Nigeria's 18th African Music Awards theme is "Africa to the World".
  • Collaboration aims to strengthen trade relations and boost Nigerian economy.

More from Monday 31 August →