KUALA LUMPUR: The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) welcomed measures announced by Prime Minister Datuk Seri Anwar Ibrahim in his National Day address to reduce operating and compliance costs for micro, small and medium enterprises (MSMEs).
It particularly welcomed the increase in the e-invoice exemption threshold to RM3 million from RM1 million in annual turnover or revenue, saying the move was in line with its pre-Budget 2027 recommendations.
"The higher exemption threshold will benefit 1.1 million MSMEs, allowing them to reallocate capital towards operational scaling while mitigating rising raw material and labour costs,” it said in a statement.
ACCCIM also welcomed a RM1 billion increase in funding for micro-business financing to RM6 billion, saying this would help small businesses secure financing at reasonable borrowing costs.
It said higher BUDI95 and BUDI Diesel quotas would provide relief to high-consumption consumers and businesses, but stressed the need for strict enforcement to prevent leakages and abuse.
Ahead of Budget 2027 on Oct 9, ACCCIM urged the government to further refine the tax structure, reduce regulatory burdens and introduce targeted measures to encourage investment, raise productivity and support strategic sectors. - Bernama
