Govt to review e-invoicing, mandatory 2% EPF contribution for foreign workers

 Deputy prime minister Ahmad Zahid Hamidi says the Cabinet has taken note of BN's proposals aimed at easing concerns among businesses.

BN chairman Ahmad Zahid Hamidi thanked the prime minister for considering the coalition’s views.

ISKANDAR PUTERI:

The government has agreed to review the e-invoicing system, and the mandatory 2% Employees Provident Fund contribution for foreign workers, deputy prime minister Ahmad Zahid Hamidi said tonight.

He said the Cabinet has accepted Barisan Nasional’s proposals at its meeting earlier today to ease concerns among businesses.

“We do not want businesses to feel burdened by the implementation of e-invoicing,” Zahid, who is also the BN chairman, told a crowd of about 200 people while campaigning for the Johor state election.

The e-invoice system was introduced on Aug 1, 2024. As of April this year, a total of 225,604 taxpayers have adopted the system, issuing a combined 1.299 billion e-invoices.

Separately, Zahid said the Cabinet has agreed to review the requirement for employers to contribute 2% to the EPF for foreign workers.

“We requested that the 2% contribution be reconsidered, and the Cabinet agreed to review it,” he said.

He also confirmed that the Cabinet has resolved an issue involving a 10-year tax exemption for TAR UMT after a proposal by MCA president Wee Ka Siong.

He said the Cabinet agreed that the earlier decision to grant the tax exemption should be implemented, requiring the institution only to submit its audited annual accounts to the finance ministry each year.

He thanked Prime Minister Anwar Ibrahim for considering BN’s views. - FMT