Veerinderjeet Singh’s Post

Interesting panel session on 5 September 2024 entitled ‘ Strengthening Tax Governance in a Changing Landscape’ at the Audit Committee Conference organised by the Malaysian Instititute of Accountants (MIA) and the Institute of Internal Auditors,Malaysia. It was well moderated by Surin Segar and the contibution by the other panelists Rihanna and Noor Azman was enligtening. Tax matters are now certainly an agenda item in audit committees and board meetings. The Tax Corporate Governance Framework (TCGF) issued by the Malaysian Inland Revenue Board in April 2022 following the Tax Governance Guide issued in October 2021 by the MIA & MICPA is now certainly a robust approach that corporates should consider in managing their own tax obligations as well as in embracing greater tax transparency. Further promotion of tax governance os now ongoing by both the MIA and MICPA organising various sessions on this important aspect in the overall corporate governance of corporates. Look forward to the Malaysian Inland Revenue Board building on its pilot phase and encouraging more to adopt the TCGF as well as enhancing the benefits of being involved in the TCGF in the context of the cooperative compliance initiative.

Am pleased to be invited to the 15th Asia Pacific Tax Forum held in Kuala Lumpur on 16-17 July 2024. This is the first time this event is being held in Malaysia. Thanks to the International Tax & Investment Center which co- founded the Forum. I was a panelist on the session on ‘ Global Direct Tax Policy Developments- The UN Process and OECD Inclusive Forum’ and spoke as Vice Chair , Global Tax Commission of the International Chamber of Commerce. As a panelist, I reiterated the view of the ICC on the proposed UN International Tax Framework that “A coordinated global tax system, built on principles of stability, certainty, and consistency, is essential for creating an environment conducive to economic prosperity”. I highlighted five key aspects for consideration: - consensus in decision making - inclusive engagement with taxpayers - the importance of ensuring expertise and coordination - the need to leverage on existing frameworks, mitigate inconsistencies and enhance tax certainty - the fifth point relates to illicit financial flows and in this context, there is the need to prioritize policies that address the informal economy from which additional tax revenue can be generated to assist economies in trying to achieve the SDGs.

It was a pleasure to present on a topic such as “ Tax Governance in a Changing Tax Landscape” at the One Day Corporate Board Leadership Symposium 2024 organised by the Malaysian Institute of Accountants.

Honoured to have moderated a concurrent session on Decarbonising the Planet: A Look at Environmental Taxes at the Malaysian Institute of Accountants 2024 International Conference held at the Kuala Lumpur Convention Centre on 11 and 12 June 2024. My thanks to the organisers and my panelists— John Patrick Anthonysamy - Head of the Tax Division, Malaysian Ministry of Finance; Anna Theewus - Co -Chair of the ICC Working Group on Carbon Pricing, Dipankar Ghosh- Sustainability Partner at BDO India & Sharon Yong - Tax Partner at EY Malaysia. We covered the UN SDGs, climate change, sustainability standards, ESG initiatives, various environmental taxes/ gteen incentives, carbon taxes, fuel taxes, the cost impact to businesses and consumers, etc. The participants raised interesting questions. In the end, we all know we have a shared responsibility in doing our part in the global push to decarbonise this planet of ours!

Wonderful to see this—-walking the talk on inclusiveness and humanity!

Just attended the AGM of Zico Holdings Inc. following my recent appointment as an Independent Non- Executive Director of the Catalist listed entity on the Singapore Stock Exchange. Had a good onboarding session and brainstorming discussion with the new board members and the senior management team.

Pleased to be attending and speaking at the 7th IFA Asia Pacific Regional Conference currently going on in Hong Kong from. 22-24 April 2024. Chaired a Plenary session this morning on “ Tax & ESG” and tomorrow , I will be a panelist in the final Plenary session on “ The Future of the Tax Profession”. Look forward to the Plenary Sessions and the concurrent Workshop Sessions. Also engaged with David Bradbury of the OECD where he spoke on Pillar 2 and its Progress……lots to digest…..

Thanks to BFM Radio for their invitation to speak on the topic “ Time for Holistic Tax Reform in Malaysia” this morning. There is lots to do …….

Governance processes are always seen as a ‘pain’ but these need to be pushed and elevated. Global partnerships do need some non- executives from outside looking in as that will provide a measure of reassurance depending on the scope of their remit.