The Digital Ministry is ready to help SMEs in the implementation of e-invoicing – Gobind

KUALA LUMPUR: The Digital Ministry is ready to help traders and small and medium enterprises (SMEs) who are facing difficulties in implementing the e-Invoicing system, which is scheduled to start this August.

Its minister, Gobind Singh Deo, said a number of issues had been raised regarding the implementation of the system, including the possibility that traders and SME entrepreneurs would have to pay more to get expert services to implement the new system.

Accordingly, his party will examine the matter and the steps that can be taken to help the concerned group.

“The assistance will be discussed first, and any announcement may be made during the presentation of Budget 2025 this October,” he told reporters after officiating the National e-Invoicing Open Day and Accreditation Council organized by the Malaysian Digital Economy Corporation (MDEC) here today.

Gobind commented on the concerns of parties, including the Malaysian Association of Small and Medium Enterprises (SAMENTA), regarding the increase in costs that SMEs have to bear following the implementation of the e-invoicing system.

He, on the other hand, insisted that the implementation of e-invoicing would be beneficial, including increasing the income of SMEs.

“If we see the impact (implementation of e-invoicing) widely, when it can facilitate business, the process will save money and speed up every transaction.

“From that point of view, we can definitely see an increase in SME income,” he said.
At the event, a total of 31 Peppol Service Providers (SP) and four Peppol Ready Solution Providers (PRSP) received accreditation as recognized e-invoicing service providers.

The move thus creates a network of collaboration between businesses and service providers that allows businesses to explore various suitable e-invoicing solutions for the purpose of business digitization and tax compliance.

MDEC, which is also the country’s leading digital economy agency, is also mandated as the Pan-European Public Procurement On-Line (Peppol Authority) in Malaysia.
Meanwhile, MDEC said the use of e-Invois is expected to increase tax revenue contribution between 14 percent and 15 percent of gross domestic product once fully implemented in all businesses by July 1, 2025.

The National e-Invoicing System, which aims to digitize business using the Peppol framework, is an initiative under several national action plans, namely the 12th Malaysia Plan, the MyDigital Action Plan, and the E-Commerce Strategic Roadmap (NESR) 2.0.

The adoption of e-invoicing is an important step in line with the current progress of the digital economy, in addition to helping businesses coordinate operations and increase efficiency, driving economic growth, and increasing tax revenue.