PETALING JAYA: The recent"e-Invoice Guideline " issued by the Inland Revenue Board has raised concerns among micro, small and medium-sized enterprises , says the MCA.
Secondly, Lim said e-Invoices may cause businesses' financial costs to spike, and there were also concerns over security and tax data privacy. Lim also suggested several steps the government should take to enhance the e-Invoice system, including enhancing training and support for businesses, especially MSMEs.
Therefore, it is necessary for the government to clarify the implementation details in order to create a more convenient business environment rather than burdening the public. This would have a burden on business operations and potentially lead to closures or forced market exits for some micro businesses and petty traders.
2) Strengthen regulation of security and tax data privacy, such as establishing stricter data security standards and intensifying supervision of businesses, to ensure that tax data is not subject to unauthorised access and abuse.
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