KUALA LUMPUR: Large businesses are pressuring SMEs to adopt e-invoicing, threatening exclusion from supply chains if they do not comply, said Small an...
From left: Ooi, Ng and Malaysia Retailer Chains Association deputy president Datuk Liew Bin at a press conference themed ‘Impact and Challenges Faced by SME and Retailer Community.Large businesses are pressuring SMEs to adopt e-invoicing, threatening exclusion from supply chains if they do not comply, said Small and Medium Enterprises Association of Malaysia national president Datuk William Ng.
Ng said that while Inland Revenue Board has reminded larger corporations that smaller SMEs are not required to issue e-invoices, many large companies are still demanding compliance from their suppliers. “This could lead to smaller SMEs being cut off from supply chains simply because they are not ready to issue e-invoices,” he said.
He called on the government and tax authorities to simplify the e-invoicing process, making it as easy as scanning a QR code, to avoid additional costs and disruptions for SMEs. Ng is urging the government to take these concerns into account and implement solutions that make e-invoicing easier and more secure for SMEs before the nationwide implementation.
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