KUALA LUMPUR: A total of 7,900 companies have utilized the e-invoicing system, resulting in the issuance of 87 million e-invoices as of November 19, as reported by Deputy Finance Minister Lim Hui Ying. She explained that the e-invoicing initiative began with tax-paying companies in the first phase and included voluntary participation from companies categorized in phases two and three.

According to BERNAMA News Agency, while addressing a query in parliament from Radzi Jidin (PN – Putrajaya) regarding the e-invoicing system’s implications on the micro, small, and medium enterprises (MSMEs) sector, Lim highlighted that the costs associated with the system range between RM3,000 and RM30,000. The costs vary for companies in phase one and phase two due to differences in size and complexity.

Radzi previously mentioned that traders need approximately RM200,000 to implement the e-invoice system, with an additional RM50,000 required for maintenance. In response to an additional question about the system’s implementat
ion period, Lim stated that the government has allowed a six-month transition period. This period aims to provide companies the flexibility to issue consolidated e-invoices, including those that combine all monthly transactions. During this time, penalties will not be imposed on companies that issue at least one consolidated e-invoice.