by Venu Puthankattil, venu@theborneopost.com. Posted on December 3, 2012, Monday
KUCHING: Many parties, including the Association of Chartered Certified Accountants (ACCA), have dedicated much effort to enhance awareness and education about the Goods and Services Tax (GST) to prepare for the imminent change to the consumption-based tax.
Outlining this, ACCA Malaysia country head Jennifer Lopez told The Borneo Post, “There have been many concerns raised by consumers and corporations on the implementation of GST in Malaysia, and those concerns are certainly valid. For this reason, our government has deferred implementation of GST since 2007.
“This is a matter that goes beyond the implementation of a new system.
“There must be comprehensive awareness as well, to ensure that everyone is thoroughly informed about how the GST will affect them,” she emphasised.
The country head pointed out that ACCA works with government agencies and other third parties to conduct awareness and instructional seminars for ACCA members on important tax matters throughout Malaysia.
ACCA is working with the Royal Malaysian Customs Malaysia to conduct talks on GST and has partnered with the Chartered Tax Institute of Malaysia this year to conduct over 40 tax seminars across nine states, covering topics such as real property gain tax, criminal tax investigations, tax audits, and national budget highlights.
When asked how ACCA adapts to the changing landscape of the accounting and tax issues, she said, “ACCA updates the syllabus for our tax and corporate reporting papers every year to ensure that our students study the latest rules and standards thereby making them industry-ready professionals.
“We also keep our members up-to-date with current issues and regulations via workshops and webinars (online seminars), as well as produce thought leadership through our Research & Insights programme.”
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