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Wednesday, April 9, 2014

Malaysia’s tax policies among least complex in region

07 April 2014| last updated at 03:59PM

KUALA LUMPUR: More than two-third of tax executives in Asia Pacific rated Malaysia's tax system as consistent and predictable, according to the Deloitte 2014 Asia Pacific Tax Complexity Survey Report.

The report highlights key tax trends facing businesses operating in the region.

"This year's finding has showed a shift by businesses in placing greater focus on consistency of tax policies.

"This finding is a reversal of the 2010 study where businesses placed greater emphasis on complexity and predictability of tax policies when deciding to enter or exit a market in Asia Pacific," Deloitte said in a statement today.

Deloitte Malaysia Country Tax Leader Yee Wing Peng said the survey indicated that Malaysia's tax laws were deemed to be relatively much easier to interpret and understand by tax executives in the region.

"Additionally, Malaysia is predicted to be one of the least complex tax jurisdictions in Asia Pacific in the next three years, merely behind Brunei and Singapore among the Southeast Asian countries," he added

The report surveyed over 800 financial and tax professionals in 20 jurisdictions across Asia Pacific.-- BERNAMA

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