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RM1,000 e-vouchers for SMEs to upgrade system [New Straits Time (Malaysia)]
[June 04, 2014]

RM1,000 e-vouchers for SMEs to upgrade system [New Straits Time (Malaysia)]

(New Straits Time (Malaysia) Via Acquire Media NewsEdge) KUALA LUMPUR: SMALL- and medium-scale enterprises (SMEs) are eligible for RM1,000 e-vouchers to purchase or upgrade to Goods and Services Tax (GST)-compliant accounting software.

In making the announcement yesterday, Prime Minister Datuk Seri Najib Razak said the GST e-vouchers would ensure a smoother business transition when the GST comes into effect.

"This voucher is meant to be a simple, fast and effective way for SMEs to purchase or upgrade to GST-compliant accounting software.

"All they need to do is submit an online application for the e- voucher, which can be used to purchase the software from participating vendors," he said when launching the SMIDEX 2014 Annual Showcase at the Kuala Lumpur Convention Centre here yesterday.

The e-vouchers by SME Corporation, he said, were among the financial assistance and tax incentives for the purchase of GST- related software and hardware.

Najib said the government had allocated RM100 million for a series of nationwide awareness and training programmes to provide a clear understanding of the GST.

"We have embarked on a series of fiscal reforms to shift our economy to a more sustainable footing and this includes the implementation of the GST.

"Therefore, I want all stakeholders, particularly businesses, to have a clear understanding of how to prepare for the GST." At the same time, Najib said, governments around the world, including Malaysia, must ensure trade liberalisation measures take into account the interests of SMEs and their integration into both the supply and value chains.

"As most Malaysian SMEs are in the services sector, we have introduced the Merger and Acquisition of Small and Medium Service Providers Incentives, aimed at encouraging the creation of more competitive and resilient SMEs." (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.

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