Kuala lumpur: The implementation of the e-Invoice system in Malaysia has achieved significant milestones, recording more than 1.27 billion transactions involving 224,831 taxpayers nationwide. This information was disclosed by Deputy Finance Minister Liew Chin Tong during a recent event.

According to BERNAMA News Agency, the e-Invoice system encompasses participants from micro, small, and medium enterprises (MSMEs) across the country. Liew highlighted that the e-Invoice initiative is envisioned as a catalyst for business growth and transformation, urging the Inland Revenue Board (LHDN) to invest more in making the system user-friendly.

Liew emphasized the importance of continuous investment in information and communication technology (ICT) infrastructure by LHDN to ensure that the technology remains current. He also mentioned that the e-POS e-Invoice system is now available for free to businesses with revenues of RM5 million and below, encouraging its widespread use as a foundation for digitalization.

Meanwhile, LHDN chief executive officer Datuk Dr Abu Tariq Jamaluddin anticipates the involvement of 130,000 taxpayers from the MSME category in the fourth phase of the e-Invoice implementation. He also noted that the MSME and e-Invoice Carnival aims to support business development and digitalization, while promoting and educating businesses about e-Invoicing.

Dr. Abu Tariq expressed hope that the carnival would help identify the challenges faced by MSME businesses, including those related to e-Invoicing, and enable LHDN to provide direct assistance and opportunities for entrepreneurs to explore market expansion.