Anwar to Cut Small Business Costs After Poor Poll, Bernama Says

Malaysian Prime Minister Anwar Ibrahim announced measures to help reduce cost burdens for small and medium enterprises in the Southeast Asian country, according to a Bernama report, days after his coalition performed poorly in state legislative elections in Sabah.

Anwar has raised the threshold to exempt businesses from an e-invoicing initiative by the Inland Revenue Board to 1 million ringgit ($243,267) in annual revenue from 500,000 ringgit, Bernama said. He also doubled government funds to expedite tax refunds to small businesses, to 4 billion ringgit from 2 billion ringgit, according to the report.