Latest news with #InternationalAccountantsConference2025
The Sun
26-05-2025
- Business
- The Sun
Accountants play critical role in improving companies sustainablity practices — Amir Hamzah
KUALA LUMPUR: Accountants play a critical role in guiding companies to improve their sustainability practices, particularly in governance by ensuring high-quality, reliable disclosures are aligned with international standards, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said that as sustainability becomes central to business strategy, accountants play a pivotal role in integrating environmental, social, and governance (ESG) and sustainability considerations into business strategy and initiatives and corporate reporting. 'This enhances transparency, supports climate action, and helps steer Malaysia towards a low-carbon, resilient economy,' he said in his keynote address at the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. Amir Hamzah, who launched the conference, said today's accountants are not just financial stewards; they are sustainability champions. 'With the right frameworks, capabilities, and support, you are well-positioned to drive meaningful change, catalyse green financing, and support Malaysia toward a low-carbon, inclusive future envisioned by the MADANI administration,' he said, adding that the profession's sustainability advocacy is well aligned with state policy, namely the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030). In addition, Amir Hamzah said ensuring equitable tax systems and addressing the informal economy are also vital for fiscal sustainability, as accountants contribute to policy development and enforcement mechanisms that promote compliance and fairness. 'Addressing non-compliance and systemic inefficiencies in the tax system is a priority under the MADANI economic framework. 'The government's efforts to broaden the tax base, including taxing the shadow economy, require accountants to advocate for tax compliance and assist businesses in understanding and fulfilling their tax obligations. 'This support is vital for enhancing tax collection, which is critical for funding the nation's developmental expenditures and long-term reforms,' he said. Meanwhile, Amir Hamzah said that with Malaysia holding the ASEAN chairmanship, harmonising regional standards and promoting initiatives like the ASEAN Chartered Professional Accountant (CPA) qualification will enhance cross-border collaboration and economic integration. 'Accountants can contribute further by aligning their professional practices with regional frameworks and supporting the adoption of sustainability assurance standards across ASEAN,' he said. MIA International Accountants Conference 2025 coincides with the ASEAN Summit 2025. The conference is held at the Malaysia International Trade and Exhibition Centre (MITEC) on May 26 and 27, under the theme 'Collaborative Leadership for a Sustainable Future'. This year, the conference has attracted close to 3,800 delegates attending both physically and virtually.
The Sun
26-05-2025
- Business
- The Sun
Accountants key to boosting companies' sustainability efforts
KUALA LUMPUR: Accountants play a critical role in guiding companies to improve their sustainability practices, particularly in governance by ensuring high-quality, reliable disclosures are aligned with international standards, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said that as sustainability becomes central to business strategy, accountants play a pivotal role in integrating environmental, social, and governance (ESG) and sustainability considerations into business strategy and initiatives and corporate reporting. 'This enhances transparency, supports climate action, and helps steer Malaysia towards a low-carbon, resilient economy,' he said in his keynote address at the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. Amir Hamzah, who launched the conference, said today's accountants are not just financial stewards; they are sustainability champions. 'With the right frameworks, capabilities, and support, you are well-positioned to drive meaningful change, catalyse green financing, and support Malaysia toward a low-carbon, inclusive future envisioned by the MADANI administration,' he said, adding that the profession's sustainability advocacy is well aligned with state policy, namely the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030). In addition, Amir Hamzah said ensuring equitable tax systems and addressing the informal economy are also vital for fiscal sustainability, as accountants contribute to policy development and enforcement mechanisms that promote compliance and fairness. 'Addressing non-compliance and systemic inefficiencies in the tax system is a priority under the MADANI economic framework. 'The government's efforts to broaden the tax base, including taxing the shadow economy, require accountants to advocate for tax compliance and assist businesses in understanding and fulfilling their tax obligations. 'This support is vital for enhancing tax collection, which is critical for funding the nation's developmental expenditures and long-term reforms,' he said. Meanwhile, Amir Hamzah said that with Malaysia holding the ASEAN chairmanship, harmonising regional standards and promoting initiatives like the ASEAN Chartered Professional Accountant (CPA) qualification will enhance cross-border collaboration and economic integration. 'Accountants can contribute further by aligning their professional practices with regional frameworks and supporting the adoption of sustainability assurance standards across ASEAN,' he said. MIA International Accountants Conference 2025 coincides with the ASEAN Summit 2025. The conference is held at the Malaysia International Trade and Exhibition Centre (MITEC) on May 26 and 27, under the theme 'Collaborative Leadership for a Sustainable Future'. This year, the conference has attracted close to 3,800 delegates attending both physically and virtually.
The Sun
26-05-2025
- Business
- The Sun
RON95 subsidy rationalisation to be implemented in second half of 2025 -- Amir Hamzah
KUALA LUMPUR: The rationalisation of RON95 fuel subsidies will be implemented in the second half of 2025, said Second Finance Minister Datuk Seri Amir Hamzah Azizan. He said the Ministry of Finance (MoF) will continue with the subsidy rationalisation process, but the current focus is on identifying the groups that will be eligible to receive subsidy. 'MoF will proceed with the subsidy rationalisation, but for now, the priority is to ensure that the right recipients are identified. 'Prime Minister Datuk Seri Anwar Ibrahim, together with the Cabinet, is discussing the eligibility threshold for Malaysians, where the qualifying level to receive subsidies will be raised,' he told media after officiating the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. In addition, he said the government is still considering the use of MyKad as a mechanism for implementing targeted RON95 subsidies. 'Every Malaysian citizen has an IC, and we have already used it under the Sumbangan Asas Rahmah (SARA), which has proven effective. So, for now, the MoF is tightening the system to enable its use in the adjustment of the RON95 subsidy,' he said. Meanwhile, responding to a question on the government's stance regarding industry players' calls to postpone the implementation of the sales and services tax (SST), Amir Hamzah said the government is reviewing and considering feedback from stakeholders. 'The government always takes into account everyone's views. Regarding the SST expansion we are implementing, we have discussed it with all the stakeholders, and whatever feedback we have received has been taken into consideration,' he added.
The Sun
26-05-2025
- Business
- The Sun
RON95 subsidy rationalisation to start in second half of 2025
KUALA LUMPUR: The rationalisation of RON95 fuel subsidies will be implemented in the second half of 2025, said Second Finance Minister Datuk Seri Amir Hamzah Azizan. He said the Ministry of Finance (MoF) will continue with the subsidy rationalisation process, but the current focus is on identifying the groups that will be eligible to receive subsidy. 'MoF will proceed with the subsidy rationalisation, but for now, the priority is to ensure that the right recipients are identified. 'Prime Minister Datuk Seri Anwar Ibrahim, together with the Cabinet, is discussing the eligibility threshold for Malaysians, where the qualifying level to receive subsidies will be raised,' he told media after officiating the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. In addition, he said the government is still considering the use of MyKad as a mechanism for implementing targeted RON95 subsidies. 'Every Malaysian citizen has an IC, and we have already used it under the Sumbangan Asas Rahmah (SARA), which has proven effective. So, for now, the MoF is tightening the system to enable its use in the adjustment of the RON95 subsidy,' he said. Meanwhile, responding to a question on the government's stance regarding industry players' calls to postpone the implementation of the sales and services tax (SST), Amir Hamzah said the government is reviewing and considering feedback from stakeholders. 'The government always takes into account everyone's views. Regarding the SST expansion we are implementing, we have discussed it with all the stakeholders, and whatever feedback we have received has been taken into consideration,' he added.
The Star
26-05-2025
- Business
- The Star
RON95 subsidy rationalisation to be implemented in 2H2025, says Amir Hamzah
KUALA LUMPUR: The rationalisation of RON95 fuel subsidies will be implemented in the second half of 2025, said Second Finance Minister Datuk Seri Amir Hamzah Azizan. He said the Ministry of Finance (MoF) will continue with the subsidy rationalisation process, but the current focus is on identifying the groups that will be eligible to receive subsidy. "MoF will proceed with the subsidy rationalisation, but for now, the priority is to ensure that the right recipients are identified. "Prime Minister Datuk Seri Anwar Ibrahim, together with the Cabinet, is discussing the eligibility threshold for Malaysians, where the qualifying level to receive subsidies will be raised," he told media after officiating the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. In addition, he said the government is still considering the use of MyKad as a mechanism for implementing targeted RON95 subsidies. "Every Malaysian citizen has an IC, and we have already used it under the Sumbangan Asas Rahmah (SARA), which has proven effective. So, for now, the MoF is tightening the system to enable its use in the adjustment of the RON95 subsidy," he said. Meanwhile, responding to a question on the government's stance regarding industry players' calls to postpone the implementation of the sales and services tax (SST), Amir Hamzah said the government is reviewing and considering feedback from stakeholders. "The government always takes into account everyone's views. Regarding the SST expansion we are implementing, we have discussed it with all the stakeholders, and whatever feedback we have received has been taken into consideration," he added. - Bernama
