PETALING JAYA: The government should educate and advise small and medium enterprises (SMEs) during the first year of the e-invoice implementation rath...
The government should educate and advise small and medium enterprises during the first year of the e-invoice implementation rather than penalising the businesses, said Small and Medium Enterprises Association of Malaysia .
“An honest mistake can happen and this can include clerical errors made by accounting staff or cashiers,” Ng told the media following a roundtable discussion on “Challenges and Opportunities for Malaysia’s SME and Retail Industry” here today. LHDN said failure to issue e-invoices is an offence under the Income Tax Act 1967. The penalties for such offences range from a minimum of RM200 to a maximum of RM20,000, depending on the specifics of each case.
“Simply postponing the implementation for six months, a year, or even two years will not make businesses ready if they are not prepared,” Ng said. Web Bytes chief executive officer Ooi Boon Sheng said data from its top 10 Xilnex retail merchants revealed that nearly 50 per cent of their customers now use e-wallets for payments.
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