Malaysia announces measures to support small businesses impacted by energy crisis
The transition period for implementing e-invoicing will be extended until Dec 31, 2027
[KUALA LUMPUR] Malaysia’s finance ministry announced several new measures on Monday (Apr 20) to support micro, small and medium-sized enterprises impacted by the global energy crisis.
The measures include an allocation of RM5 billion (S$1.6 billion) to provide financial coverage of up to 80 per cent and a guarantee period of up to 10 years for affected businesses, the ministry said in a statement.
The transition period for implementing e-invoicing will be extended until Dec 31, 2027, for businesses with annual sales between RM1 million and RM5 million, it said.
The government would also consider interim import duty and sales tax exemptions until Dec 31 this year on reimported Malaysian goods that are unable to complete the export process due to disruptions caused by the conflict, it added. REUTERS
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