Yang Berbahagia Datuk Mohd Nizom Sairi, Chief Executive Officer, Inland Revenue Board of Malaysia
Yang Berusaha Dr Mohd Fairuz Abdul Razak, Secretary General, Malaysian Association of Tax Accountants (MATA)
Council Members of the Malaysian Institute of Accountants and the
Malaysian Association of Tax Accountants
Ladies & Gentlemen
Good morning and welcome to the Malaysian Tax Conference 2022, jointly organised by the Malaysian Institute of Accountants (MIA) and the Malaysian Association of Tax Accountants (M.A.T.A.).
As the regulator and developer of the accountancy profession, MIA prioritises good tax governance to support the nation’s fiscal health and sustainable development agenda. As such, we strongly advocate for continuing professional education on tax to support strategic tax policies, strong tax compliance and tax governance, which in turn will improve the Malaysian tax administration and the nation’s global competitiveness as an attractive investment and business destination.
Today’s Tax Conference is an important fixture on the MIA professional development calendar. The Conference intends to achieve two purposes – one, to share the latest tax and regulatory developments that will shape corporate and business tax policy, and two, to advocate for good tax governance, tax transparency and improved tax compliance to support nation building.
To share more on tax governance and the expectations of the Government with regards to compliance, we are joined today by the Chief Executive Officer, Inland Revenue Board of Malaysia, who will give his keynote address shortly. Thank you, Datuk Mohd Nizom for being with us today.
I understand that Datuk Mohd Nizom will be speaking about the new IRBM Tax Corporate Governance Framework and guidelines which are part of the IRBM’s initiative towards adopting a cooperative tax compliance process that is both fair and effective in Malaysia. This is a voluntary programme that will focus on getting taxpayers to improve compliance and pay the right amount of tax, and MIA hopes that large taxpayers will participate to model good governance and ensure success. Furthermore, MIA was delighted to contribute our feedback on various guidelines and issues which has been taken into account by the tax authorities. We trust that our expert insights will help to shape and implement a strong tax governance framework in Malaysia that will bring about countless benefits for the public interest.
To better understand the new Framework, practitioners are advised to refer to MIA and MICPA’s joint Tax Governance Guide which advocates for tax transparency and good reporting practices amongst listed issuers. This Tax Governance Guide is available on Bursa Malaysia’s Sustain Platform, and is intended to provide guidance to the directors of listed issuers in reporting the management of tax matters affecting corporations in their annual reports, in line with international developments related to the Environmental, Sustainability and Governance (ESG) agenda. Such improvements in tax transparency will promote trust and credibility in the tax practices of listed issuers and enable investors and stakeholders to make informed decisions.
In addition to conveying the key messages of tax governance and compliance, the Conference will support members and practitioners in optimising and future-proofing their organisations’ tax functions to support strategy and growth creation, while building trust and better managing tax governance risks for improved business performance and outcomes. At the same time, you will also hear from our expert speakers on the latest economic conditions and prospects, international taxation, carbon tax policy, gig economy and digital assets, and the arising tax implications.
That summarises what you can expect throughout these two days. Before I end, on behalf of MIA, I wish to thank our joint organiser, M.A.T.A., distinguished panellists, Gold Sponsor – iBiZZcloud Sdn Bhd, Silver Sponsors – Ecovis and CAANZ and all our supporters for working with us to ensure the success of this Malaysian Tax Conference 2022.
Unit 33-01, Level 33, Tower A, The Vertical, Avenue 3, Bangsar South City,
No.8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia.
The use of the word ‘Accountant’
In Malaysia, the word ‘Accountant’ is protected as provided for under the provisions of the Accountants Act 1967 which states that no one can hold himself out or practise as an Accountant unless he is registered as a member of the Malaysian Institute of Accountants.
‘The Malaysian Institute of Accountants is committed to the observance and practice of the highest ethical standards of the accountancy profession. All PC holders are reminded that under the MIA By-Laws (On Professional Ethics, Conduct And Practice), no person shall practice or hold out anything on audit/tax services without a license approved by the Ministry of Finance. Every PC holder is therefore expected to comply fully with Section B200.1 to B200.6 of the MIA By-Laws (On Professional Ethics, Conduct And Practice) failing which, you may be held liable for unprofessional conduct and disciplinary action may be taken against you.’