Digital Ministry ready to assist SMEs to implement e-invoicing
The Digital Ministry is ready to assist small and medium enterprise (SME) traders and entrepreneurs in overcoming challenges in implementing the e-invoice system, which is scheduled to begin in August.
Digital Minister Gobind Singh Deo said several issues were raised, including the possibility of SME traders and entrepreneurs incurring additional expenses to obtain professional services to implement the e-invoice system.
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Digital Minister Gobind Singh Deo said several issues were raised, including the possibility of SME traders and entrepreneurs incurring additional expenses to obtain professional services to implement the e-invoice system.
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NewsTranscript
00:00And to kindly join us down below stage, alright, great.
00:30One of the ways that has been highlighted by the government, especially through the Ministry of Finance,
00:35is for all of us to use what is called the e-invoicing concept.
00:40Where now, payment methods and so on, we do through the digital process.
00:45And the digital process is a process that helps us.
00:48Especially if it is digital data that we get from the process,
00:52that is the data that we can use next to interact with LHDN and so on.
00:58So to me, as I said in my speech earlier,
01:01it is important for all of us in Malaysia to see how we can use the digitalization process
01:07to intensify our business.
01:10One of the ways is this e-invoicing process.
01:13And I ask, and I invite all of Malaysia to see the positive effects
01:21that will be brought by the system proposed by this government.
01:24And I hope that everyone out there will also take part
01:29and will also transition from the old e-invoicing system to this new e-invoicing system.
01:36I have repeated several times, we are in a time now that is quite interesting in terms of technology.
01:44And we all see that the impact of technology on business
01:48and also on what is called the digital economy is quite large.
01:52So we all definitely want to know how we can also take part in this new era of digital technology.
02:02This is one of the ways, which will facilitate the accounting process,
02:07payment process, payment process with LHDN and so on.
02:13And I hope that everyone will take part and will also use this new e-invoicing.
02:21Mr. Oibis, the government today stated that it is concerned about the implementation of e-invoicing.
02:25I cannot hear. Louder.
02:27The implementation of e-invoicing will put pressure on the government.
02:30Who?
02:31The government. The government of the United Nations, the SMP.
02:33Yes.
02:34Such as increasing costs, such as the SMP may have to hire more workers for the e-invoicing process.
02:41Yes, I have also received several suggestions on how we can help in this process.
02:47There are several things that have been raised.
02:50One of the things is the possibility, especially small businesses,
02:56need to pay more to get experts to help in this e-invoicing process.
03:03I will see how the government can help in that aspect.
03:07But if we look at the impact broadly,
03:13when we can facilitate our business,
03:17the process will save us money.
03:20Secondly, if we use this e-invoicing process,
03:24it will stimulate our business process.
03:27It will also stimulate the number of transactions that occur.
03:30From that perspective, we can definitely see an increase in our income in a month.
03:36So the overall effect would be,
03:38even though there may be a little, not pressure,
03:42but a little challenge that we face,
03:45but I think we have to overcome this challenge.
03:48Once we know how to use it,
03:51it is intended to facilitate the process.
03:55So in the long run, it will help you.
03:57Not just in terms of making things simpler,
03:59but also in terms of increasing your productivity.
04:02That is what we want to see.
04:04What examples of assistance would you like to give to SMEs?
04:07I will discuss that.
04:08I cannot state it now.
04:12As I said, we will take it up.
04:14Again, focus on the benefits it brings you.
04:17If we move to the digital era,
04:19yes, there may be challenges in the beginning.
04:22But in the long run, you will see the benefits.
04:24Things become faster.
04:26Your productivity increases.
04:27Income increases.
04:28And at the end of the day,
04:29we will see our business improve in terms of quality
04:33and also in terms of our income.
04:36When will you announce assistance?
04:38I will discuss it with the government.
04:40And we will see if there is any announcement on how we can help.
04:43Maybe in the upcoming meetings.
04:46But as I said before,
04:47the thinking is that there are many aspects that need to be raised.
04:52That we need to look at.
04:53Not just this one.
04:54But all these areas we are looking into.
04:55And as I have said many times,
04:58we welcome suggestions.
05:01As a minister, I practice the concept of openness.
05:06We ask for all opinions and views to be given to us
05:10so that we can improve this new system.