(From left) Event organising chairman Steven Kow, Chew and Wong with participants of the programme.
ABOUT 200 participants from various small and medium-sized enterprises (SMEs) in Temerloh and Mentakab, Pahang, took the opportunity to understand and learn more about the mandatory einvoice system at a programme organised for them.
The pioneer initiative was organised by Temerloh Chinese Chamber of Commerce and Industry, led by its president Datuk Seiko Chew Kim Pong and advisor Datuk Henry Wong Tat Chee.
Wong is also Temerloh MCA division chief.
Experts were brought in to provide an overview of the einvoice system that took effect on Aug 1 and answer numerous queries from participants and businesses.
Chew said the initiative was mooted after receiving many requests from their members and traders.
“The einvoice system can help to increase efficiency in tabulating business ledgers.
“So it is beneficial for small and medium-sized businesses to learn and adopt the system quickly, since it is a mandatory requirement by the government.
“In addition, the programme also provides an opportunity for participants to mingle and interact with one another to build future networking and business deals,” he said at the event held at a school hall in Mentakab.
Wong said businesses needed to get used to the system, to avoid problems with the authorities.
He expressed hope that the taxes collected would be used prudently to bring more development for the people.
The government has meanwhile agreed to a six-month grace period from the date of mandatory implementation.
Inland Revenue Board chief executive officer Datuk Abu Tariq Jamaluddin said that during this period, no prosecution action under Section 120 of the Income Tax Act 1967 would be taken against non-compliance with the einvoicing rules, provided the taxpayer had complied with the consolidated einvoicing requirements.
Beginning Aug 1, taxpayers with an annual turnover exceeding RM100mil are required to implement einvoicing.
Businesses with revenue of between RM25mil and RM100mil must implement einvoicing by Jan 1.
By July 1, 2025, all other businesses including SMEs, hawkers and traders are required to adopt the system.
However, the government later announced that micro, small and medium-sized enterprises (MSMEs) earning less than RM150,000 annually are exempt.
