KUALA LUMPUR: The government’s move to raise the e-invoice exemption threshold from RM500,000 to RM1 million starting next year is expected to encourage entrepreneurs to become more competitive in advancing their businesses.
Malaysia Micro Enterprises Academy’s Chief Executive Officer, Abdul Azharee Abdul Wahid, said the move opens up space for entrepreneurs to focus on developing their businesses, products, and services.
He said entrepreneurs can also improve in areas such as marketing, expanding their networks, and exploring opportunities at the local and international levels.
“It’s like giving us room to breathe because in this challenging economic situation, we have the opportunity to restructure our strategies, especially in 2026.
“I said back in 2020 that small and micro-entrepreneurs, in particular, need five years to recover, and next year will be the sixth year after we faced the challenges of COVID-19.
“So, next year should be the most suitable year for us to bounce back, and I think the relaxation given by the government can inject enthusiasm into entrepreneurs to be more competitive in improving their businesses,” he said in the ‘Malaysia Petang Ini’ programme produced by BERNAMA TV on Tuesday.
He added that entrepreneurs can also enhance financial management in the back end of business operations.
“We are often told that no matter how well a business is run in terms of product or service development, what is more important is the behind-the-scenes aspect.
“Good financial management proves that an entrepreneur is capable of managing a business more systematically, especially in digital form later,” he said.
Recently, Prime Minister Datuk Seri Anwar Ibrahim announced that the government is raising the e-invoice exemption threshold to RM1 million starting next year as a measure to reduce the burden on small and medium-sized enterprises (SMEs).
He said the decision was made after the government directly heard complaints from small traders about the cost of implementing the system. – BERNAMA
