The global tax system must evolve alongside an increasingly digitalised economy, particularly as new business models, cross-border transactions and international taxation developments emerge, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said governments must continue modernising tax policies and administration to strengthen transparency, efficiency and integrity while keeping their economies competitive and attractive to investors.
“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 here today.
Amir Hamzah said a strong tax system also reflects public confidence in government institutions and the willingness of industries and individuals to contribute towards society’s well-being.
He added that strong institutions, sound governance and sustainable public finances would help countries navigate uncertainty, manage crises and seize new opportunities.
The government remains committed to fostering investment, innovation and entrepreneurship through initiatives including the New Industrial Master Plan 2030, National Energy Transition Roadmap and Johor-Singapore Special Economic Zone, he said.
