If you're an SME owner, here's a number to pay attention to: RM3 million. That's the new e-Invoicing exemption threshold that Prime Minister Anwar Ibrahim announced during his Merdeka address at the end of August, the second time this threshold has moved in under a year.

Soh Lian Seng, Head of Tax at KPMG Malaysia, talks about what this shifting compliance landscape means for SMEs, and what businesses should be doing now to keep up.

We get into:

• The moving threshold: The e-Invoicing exemption line has shifted three times in under nine months, from RM500,000 to RM1 million to RM3 million, exempting over a million businesses.

• The sunk cost problem: What happens to businesses that invested early in accounting software and training, only to find themselves exempt entirely.

• The oversight trade-off: Whether exempting so many businesses undercuts the government's goal of real-time tax visibility.

• GST vs SST: Whether folding GST-style features like input tax credits into SST is actually workable.

• The voluntary disclosure windows: What to do now, with the Stamp Duty Voluntary Disclosure Programme deadline approaching and a longer runway on the e-Invoicing Special Voluntary Disclosure Programme.

• SST's wider net: What SMEs need to check now that SST covers more goods and services.