ACCA Mid-Year Tax Focus Conference Calls For Smarter Public-Private Collaboration
KUALA LUMPUR, June 25 (Bernama) -- The Association of Chartered Certified Accountants (ACCA) held its Mid-Year Tax Focus Conference on Wednesday, underscoring the importance of strengthening economic resilience and deepening smarter collaborations between the public and private sectors as Malaysia advances key fiscal reforms amid a period of global uncertainty.
ACCA Maritime Southeast Asia portfolio head Andrew Lim said the event comes at a critical juncture, as Malaysia’s tax system continues to evolve to support broader economic objectives.
“We recognise that tax policy does not exist in isolation. It is deeply connected to broader economic goals, including investment growth, business competitiveness, and national development.
“That is why platforms like today’s conference are so important, they help bridge the gap between policy intent and practical implementation,” he said in his welcoming remarks here yesterday.
Attended by Deputy Finance Minister Liew Chin Tong, the one-day conference brought together policymakers, tax authorities, and finance professionals to discuss the operational and strategic dimensions of Malaysia’s evolving tax framework.
Speaking at the fireside chat session, Liew described consumption tax, such as the sales and service tax (SST), as “inevitable” and “still needed” to build a more prosperous society.
“The nation will be more prepared when we move away from just thinking about efficiency and cost, and move towards building long-term economic resilience by fortifying our supply chains and ensuring our economy is secure from all sides,” he said, pointing to the next budget as a critical opportunity to strengthen Malaysia’s resilience across relationships and ecosystems.
In remarks likely to resonate well beyond the tax community, Liew argued that the social dimension of sustainability -- the ‘S’ in environmental, social, and governance -- remains the least developed and least addressed area of the agenda, and that living wages sit at its core.
Liew was candid in describing the consumption tax as regressive rather than progressive, and in noting that the more meaningful long-term goal is to ensure more Malaysians earn enough to contribute to the tax base in the first place.
The fireside chat session was moderated by ACCA ExpertLink and TRATAX executive director Thenesh Kannaa.
In another session, Thenesh provided a structured perspective on reframing tax as a strategic enabler of business growth and on recent direct tax developments, according to a statement released by ACCA.
Meanwhile, Malaysian Investment Development Authority (MIDA) strategic planning and policy advocacy (manufacturing) division director Yusni Md Yusop presented the New Incentive Framework (NIF), followed by a session on practical strategies for managing tax audits.
The morning concluded with TRATAX transfer pricing manager Nasha Raina Rahim speaking on transfer pricing and key compliance considerations for businesses.
In the afternoon, Inland Revenue Board (IRB) e-invoice division director Rasyidah Che Rosli provided an overview of e-invoicing compliance audits and voluntary disclosure opportunities, in a session moderated by Thenesh Kannaa.
The final session saw Thenesh cover key direct tax developments, including corporate taxation, stamp duty, Labuan tax matters, and recent public rulings and technical guidelines issued by the IRB.
ACCA said the conference discussions reflected a shared view that tax is increasingly a core strategic component of national economic management, requiring close coordination between policymakers, regulators, and the professional community.
-- BERNAMA