E-invoicing and LPG usage reprieves averted a possible micro-business crisis, says group
PETALING JAYA: Exempting businesses with annual sales below RM500,000 will spare small traders, hawkers and family-run shops from compliance burdens, says the Small and Medium Enterprises Association (Samenta).
Its president Datuk William Ng said such burdens could force these businesses to either shut down or operate informally.
ALSO READ: Govt to review e-Invoicing to avoid burdening small firms, says PM
'We have provided input on both issues, and we are grateful that the government has shown genuine care and support for our most vulnerable enterprises,' he said in a statement on Friday (June 6).
'Similarly, the postponement of e-invoicing requirements for businesses earning below RM5mil to Jan 1 next year gives small and medium enterprises (SME) the breathing space they need to prepare, upskill and adapt.
'This flexibility is what SMEs need to survive and thrive in a changing economic landscape,' he added.
ALSO READ: E-invoicing put on hold if sales below RM500k
On Thursday (June 5), the Inland Revenue Board (LHDN) announced that the implementation phase of e-invoicing for taxpayers with annual income or sales exceeding RM1mil but not exceeding RM5mil has been postponed to Jan 1,.
LHDN also announced that taxpayers with an annual income or sales below RM500,000 are exempted from the e-Invoice system.
The implementation phase for taxpayers with annual income or sales up to RM1mil has also been postponed to July 1 next year.
ALSO READ: Small-scale food traders exempt from LPG enforcement until October
Ng said these exemptions are not only timely but reflect an understanding of the real challenges faced by small businesses on the ground.
On the waiving of enforcement action against the use of subsidised liquefied petroleum gas (LPG) by small food operators, Ng said it would go a long way towards safeguarding the daily livelihoods of thousands of families and small traders.
'It may be a small administrative change, but it carries significant implications for business continuity and the cost of living.
ALSO READ: Focus on subsidised LPG smuggling, large-scale abuse not petty traders, hawkers, says Dr Wee
'The government's proactive stance has averted what could have become a national micro-business crisis, and for that, we are sincerely thankful,' he added.
On Thursday, Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said food traders will not be subjected to any enforcement action over the use of subsidised gas until October, nor will they require a permit for using more than 42kg of gas at a time.
The Control of Supplies (Amendment) Regulations 2021, which came into force on Oct 15, 2021, limit the use of subsidised LPG to a maximum of 42kg at any one time for commercial purposes. Those exceeding this limit must obtain a Scheduled Controlled Goods Permit and only use non-subsidised LPG.
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