Over 1.27 Billion Transactions During E-invoice Implementation Involving 224,831 Taxpayers - Liew

KUALA LUMPUR, April 20 (Bernama) -- The implementation of the e-Invoice system in Malaysia has recorded more than 1.27 billion transactions to date, said Deputy Finance Minister Liew Chin Tong.

Of the total, it involved the participation of more than 224,831 taxpayers nationwide, including those from micro, small and medium enterprises (MSMEs), he said.

"E-invoice is a major initiative that is expected to act as a catalyst for business growth and transformation.

"Therefore, I hope the Inland Revenue Board (LHDN) can invest more to make the LHDN system more comfortable for everyone to use," he told reporters after launching the MSME and e-Invoice Carnival here today.

Liew said LHDN also needs to continue investing in information and communication technology (ICT) infrastructure to ensure its technology is always up to date.

“I hope that the e-POS system can be utilised well in terms of technology so that all businesses can use it as the basis for their respective digitalisation.

“The e-POS e-Invoice system can now be obtained for free by businesses with revenues of RM5 million and below,” he said.

Meanwhile, LHDN chief executive officer Datuk Dr Abu Tariq Jamaluddin expects the involvement of 130,000 taxpayers from the MSME category to be involved in the fourth phase of the e-Invoice implementation.

He also said the MSME and e-Invoice Carnival can provide support to PMKS, especially in relation to business development and business digitalisation as well as intensifying promotion and educating businesses towards the implementation of e-Invoicing.

"We hope that the issues and challenges of MSME businesses, including the implementation of e-Invoicing, can be identified through this carnival and that the LHDN can then directly assist and provide opportunities for entrepreneurs to explore business market expansion," he added.

-- BERNAMA