postpone by another year e-invoicing for companies annual sales RM1m-RM5m
postpone e-invoicing for firms earning up to RM5mil by another year
firms still not ready due to high cost of preparation
"cost of preparation (for e-invoicing) is quite high”.
raise threshold for SMEs service tax on rental from RM1m to RM1.5m annual sales
the tax remained a burden for many small businesses.
service tax reduced from 8% to 6%
applicable to rental of offices, warehouses, commercial assets.
My Comments:
Then what about those firms that have already spent money buying software, hiring tax advisors etc to help them prepare for this really dumb idea? As I have posted before a friend of mine who runs an NGO (it is not a business) also had to spend money, effort and TIME preparing for this fiasco. Now it has been postponed. All that money has gone to waste.
First they create the problem.Then they postpone the problem.
And these jokers feel they have done a great thing.
