The global tax system must keep up with digitalisation, says Amir Hamzah, as Malaysia modernises tax policy.
KUALA LUMPUR: The global tax system must evolve in step with the economic landscape that is increasingly shifting toward digitalisation, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said that new business models, cross-border transactions, and international taxation developments require governments to continue to modernise their approaches to tax policy and administration.
“Malaysia has responded proactively to these developments.
“Through ongoing reforms and digitalisation initiatives, we (the government) are strengthening the transparency, efficiency, and integrity of the tax ecosystem to ensure that Malaysia remains competitive and attractive as an investment destination,” he said in his opening speech at the 26th National Tax Conference in Kuala Lumpur today.
Also present at the event were Deputy Finance Minister Liew Chin Tong and Treasury secretary-general Tan Sri Johan Mahmood Merican.
