Prime Minister Anwar Ibrahim said the government is prepared to review the implementation of the e-invoice system by the Inland Revenue Board (IRB) so it does not unduly burden small companies.
“We will look into it because e-invoicing is very important to prevent leakages and revenue loss.
“But for small companies, it can be quite burdensome. So, God willing, we will make improvements so that it does not become a burden,” he said when winding up his policy speech at the PKR 2024/2025 National Congress, which concludes today.
The e-invoicing initiative began in August 2024 for companies with an annual turnover or revenue of more than RM100 million. The second phase started on Jan 1 this year for businesses with annual sales of between RM25 million and RM100 million.
The third phase of the full implementation of e-invoicing will begin on July 1, involving all types of businesses, including micro, small, and medium enterprises (MSMEs).
Anwar, who is also the finance minister, said Malaysia provides one of the highest subsidies.
“For example, with the (adjustment of electricity tariffs), 85 percent of users are not affected, but our way of explaining it was weak… and as for gas subsidies, that’s valid. Some small companies and others are still facing difficulties, even though provisions are in place to cover their losses.
“This is another matter we will review to ensure small companies are not burdened,” he said.
Regarding petrol subsidies, the prime minister said the government does not agree with proposals to raise fuel prices and has opted to provide subsidies.
“The cabinet and I do not agree with raising fuel prices. Prices can be lowered gradually based on current market conditions. However, fuel prices must be increased for foreigners. We have about 3.5 to 4 million foreigners in our country, and they benefit from subsidised fuel,” he said.
‘Clear shift in support’
Meanwhile, the prime minister also shared findings from a study by the IDE Research Centre, which showed an increase in support for his government among civil servants.
“The study shows that among the 1.4 million civil servants, the majority of whom are Malays, there is a clear shift in support.
“This is a very encouraging sign that should give us confidence that civil servants now have a more positive view of the government,” he said.
He added that his government’s initiative to implement the Public Service Remuneration System, which replaced the Malaysian Remuneration System last December, has had a positive impact, with civil servants now working more firmly and efficiently.
- Bernama
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