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PowerTalk

ICDM Post-Budget PowerTalk

Bernard Yap & Dr Veerinderjeet Singh

Malaysian companies should take a leaf from the Government’s approach – now, more than ever, it is critical for companies to balance their financial and social obligations to ensure the sustainability of their business. From adoption of technology, building more resilient supply chains, transitioning or adapting hybrid business models, incorporating greater focus on e-commerce, to people policies which include focussing on the wellbeing of human capital assets such as hiring across a broader segment of the population, including the retirees, we hope to see a future with stronger, more resilient and socially conscious companies that are driven by creating positive impact.”

Michele Kythe Lim, President/CEO, Institute of Corporate Directors Malaysia

Amidst unprecedented times, Malaysia embarks on a recovery journey of its economy based on three fundamental thrusts – the Rakyat’s prosperity, business continuity and economic resilience. The Government has set the right tone from the top, as the Budget 2021 seeks to simultaneously create new economic and revenue streams, generate jobs and create sustainable income avenues, and opportunities for the people.

Join us in reviewing the tax and targeted incentives, as well as economic measures of the largest budget in Malaysian history that is intended to encourage recovery, growth and investment whilst safeguarding existing jobs, reskilling the unemployed and caring for the underserved communities. Listen to the budget highlights and key takeaways from our panel of experts as they discuss the nation’s efforts in stimulating the economy, paving the way to recovery and ensuring that businesses and communities are sustained through these tough and challenging times. At the session, we will be exploring:

  1. A snapshot of the Budget
  2. Top 3 corporate tax proposals that every Board member should know
  3. Key personal tax issues that could have an impact on Board members in their individual capacity

Speakers

BERNARD YAP
Malaysia Private Client Services Leader;
Partner, Ernst & Young Tax Consultants Sdn. Bhd.

Bernard is head of Private Client Services and Financial Services within the Tax Practice in Ernst & Young Malaysia. He was the Indirect Tax leader within Ernst & Young Malaysia that led the GST implementation in Malaysia. He has been actively involved in compliance, regulatory and consultancy engagements for Malaysian financial institutions, including Islamic financial institutions.

At present, he works with banks and insurance companies within the financial industry. In addition, he also provides tax planning services to owners, families, family businesses, private equity and asset management stakeholders as well as high net worth individuals.

Within Bernard’s portfolio, he works with the EY Global tax policy network to help develop and implement policy initiatives — both as an external and internal advisor to governments and regulators. His experience includes conducting tax due diligence, tax documentation review and tax audits, tax training, indirect tax planning and advisory, tax planning schemes for large local and multi-national corporations, and applications for licences, incentives and tax exemptions.

Bernard has helped set up an in-house tax department for Malaysia’s local largest Islamic bank. He was also involved in the formulation of the discussion paper on the comparison of the tax implications on conventional insurers and takaful operators, as well as assisted local and international banks in the implementation of the Common Reporting Standard (CRS) in Malaysia.

Dr VEERINDERJEET SINGH
ICDM Member (M)
Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd and
President of the Malaysian Institute of Accountants (MIA)

Dr Veerinderjeet Singh was elected by the MIA Council as the President on 26 September 2020. Acknowledged as a leading expert in accountancy and taxation, Dr Veerinderjeet Singh commenced his current term on the MIA Council when he was appointed as a member on 25 May 2019.

He is currently the President of The Malaysian Institute of Certified Public Accountants (MICPA) and is a Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd. He was also Past President of the Chartered Tax institute of Malaysia (CTIM) from 2007 to 2010.

With over 30 years of diverse experience in the fields of accounting, taxation and commerce, Dr Veerinderjeet has served in the Inland Revenue Department, University of Malaya (as an Associate Professor), Arthur Andersen and Ernst & Young (as a Tax Partner/Executive Director) and authored several influential and authoritative tax publications. Dr Veerinderjeet also sits on the Boards of Malaysian Rating Corporation Berhad, AmBank (M) Berhad and UMW Holdings Berhad. He is also an Adjunct Professor at Monash University, Malaysia and the current Chair of the Monash Business School Industry Advisory Board.

Globally, Dr Veerinderjeet contributes his expertise as a member of the Commission on Taxation of the International Chamber of Commerce based in Paris and a member of the Board of Trustees of the International Bureau of Fiscal Documentation (a tax research and consultancy body) based in Amsterdam.

Wednesday | 18 Nov 2020 (Facilitators: Bernard Yap & Dr Veerinderjeet Singh)

1.50pm Programme Introduction & Housekeeping
2.00pm Welcome Remarks by Michele Kythe Lim
President & CEO, ICDM
2.05pm Spotlight on Budget 2021: Know Your Budget by Bernard Yap
Malaysia Private Client Services Leader;
Partner, Ernst & Young Tax Consultants Sdn Bhd
2.40pm Conversation with Dr Veerinderjeet Singh
ICDM Member (M)
Non-Executive Chairman of Tricor Services (Malaysia) Sdn Bhd & President of the Malaysian Institute of Accountants (MIA).
3.15pm Question & Answer
3.30pm End of Programme

The Organiser reserves the right to alter the content and timing of the programme as it deems fit and is not responsible for cancellations due to unforeseen circumstances.


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