ACCCIM welcomed Putrajaya’s decision to raise the annual revenue threshold for mandatory e-invoicing, saying it had repeatedly voiced concerns that this was among factors that could increase business costs, leading to a ripple effect on the economy.

It also appreciated the government’s decision to provide a two-year moratorium on the requirement to report job vacancies under the MYFutureJobs portal as part of proposed amendments to the Employment Insurance System Act 2017 (Act 800).

Nonetheless, ACCCIM said this particular amendment needed to balance between having a transparent labour market and the need of businesses for operational flexibility and minimal compliance burdens.

“Moving forward, early consultations with key stakeholders should be held before the formulation of major policy changes to ensure clarity, practicality, and smoother implementation.

“We sincerely hope the government will continue fostering a conducive business environment and undertake future economic reforms in a gradual, well-phased manner, supported by meaningful stakeholder engagement,” it said in a statement.

Yesterday, Prime Minister Anwar Ibrahim announced that the Cabinet had decided to exempt businesses with annual revenue under RM1 million from mandatory e-invoicing, which comes into effect on Jan 1.

In June, the Inland Revenue Board (LHDN) said the finance ministry decided to defer the implementation of e-invoicing for companies earning between RM1 million and RM5 million to Jan 1, 2026 from July 1, 2025, previously.

Implementation for companies with annual revenue of up to RM1 million, now scrapped, was to have been deferred to July 1, 2026.

Several business groups had repeatedly voiced opposition against the e-invoicing rollout, saying many smaller traders lacked the financial resources, education, and technical expertise to implement e-invoicing effectively.