Photo: Bernama
KUALA LUMPUR: Small and medium enterprises (SMEs) with annual sales turnover of RM500,000 and below have been given a six-month extension to comply with e-invoicing, says Datuk Seri Amir Hamzah Azizan.
"To further assist the SMEs with adequate time to prepare, the government has agreed to postpone the implementation of e-voicing for SMEs with annual sales of between RM150,00 and RM500 000 until Jan 1, 2026,” said the Finance Minister II.
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"This six-month additional transition period will prepare these businesses and benefit more than 240,000 SMEs," he said in Dewan Rakyat on Thursday. (Feb 20).
Phase 3 of mandatory e-invoicing is scheduled to start on July 1 this year.
Phase 1 began on Aug 1 last year for businesses with annual turnovers over RM100mil and above.
The implementation of Phase 2 for businesses with turnovers exceeding RM25 million began on Jan 1 this year.
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Last July, Amir announced that micro, small and medium enterprises (MSMEs) earning less than RM150,000 annually were exempted from issuing e-invoices.
There has been recent push-back by SMEs over the mandatory implementation of e-invoicing this coming July 1.
Many SMEs said that more time was needed as some businesses were not fully prepared or familiar with the new e-invoicing regime.
