KUALA LUMPUR, Aug 4 (Bernama) --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.
Amir Hamzah also said that a strong system of taxation reflects the public's confidence in government institutions, as well as the willingness of industries and individuals to play their part in contributing to the society’s well-being.
“More importantly, it demonstrates the government's capacity to use public resources responsibly for national development.
“Recent global developments have shown that countries with strong institutions, sound governance, and sustainable public finances are in a better position to navigate uncertainty, tackle crises, and seize new opportunities,” the minister said.
Amir Hamzah also said that the government remains committed to creating an environment that supports investment, innovation, and entrepreneurship.
He said policies such as the New Industrial Master Plan 2030, the National Energy Transition Roadmap, and the Johor–Singapore Special Economic Zone reflect the government's determination to position Malaysia as a competitive, future-ready economy.
-- BERNAMA