By MIA Sustainability, Digital Economy and Reporting
The TCG Pilot Programme (the Programme) carried out by Lembaga Hasil Dalam Negeri Malaysia (LHDNM) sought to align corporate tax management systems with modern regulatory frameworks while addressing challenges in compliance and reporting.
Key takeaways of the Programme are as follows:
The Programme underscores the necessity of fostering collaboration, upskilling stakeholders and integrating technology to build resilient tax governance frameworks. By adopting the following, businesses can navigate the complexities of evolving regulatory landscapes and establish robust compliance mechanisms in the future:
The Programme provides vital insights into how tax authorities can better support compliance efforts while modernising processes to meet evolving economic and regulatory demands. It explores innovative strategies to simplify compliance, enhance tax governance, and reduce the administrative burden on taxpayers, paving the way for a more efficient and transparent tax environment.
The key insights of the Programme from the perspectives of tax authorities and taxpayers are set out below together with possible actions for consideration by taxpayers.
The Programme is in line with the enablers of the MIA Sustainability Blueprint for the Accountancy Profession, which emphasises the importance of improved governance, technological adoption, capacity building, and stakeholder collaboration within the accounting profession.
