Sunway student to represent M’sia at tax competition
MIKE Ng who is pursuing a Bachelor of Science in Accounting and Finance at Sunway University, will represent Malaysia at the EY Young Tax Professional of the Year international final.
To be held in Amsterdam from Nov 23 to 27, Ng, 21, will compete against winners from over 30 countries for the title of “EY Young Tax Professional of the Year 2019”.
The first runner-up is Ashley Lim Siew Fern, 20, majoring in Professional Accounting at Tunku Abdul Rahman University College while Ng Cheng Yuan, 22, who is also pursuing her Accounting degree at the same institution, was named second runner-up.
Inland Revenue Board (IRB) CEO Datuk Seri Sabin Samitah said: “Today’s business setting requires tax professionals to have the right acumen in navigating the tax landscape of the clients they represent, and providing the right business advice based on the different international tax laws in place.”
“Having sound technical skills will still be critical and a necessity, but no longer sufficient.
“What will be more important is to be able to make sense of or make good the volume of data that would be readily available to tax professionals, and how to use it for their clients’ tax planning and reporting,” he said.
He said to remain relevant, tax professionals of the future will not only be acting as tax advisers, but also as tax technologists.
He said programmes such as the EY Young Tax Professional of the Year is a right move in correcting the tax-talent gap which exists by starting graduates early in exploring a career in taxation.
“The IRB will continue to support the Malaysian chapter of this competition to build tax awareness among the public,” he added.
His speech text was read by IRB deputy CEO (policy) Datuk Noor Azian Abdul Hamid.
EY Asean and Malaysia Tax leader Amarjeet Singh said the competition sets itself apart from other undergraduate programmes as an enabler for young talents to explore, discover, thrive and achieve beyond the confines of their campus walls.
“It provides them with a glimpse into the real working world.
“This type of exposure and learning is particularly vital given the intense changes we are seeing in global trade and commerce today, where tax professionals are playing critical roles as trusted advisers in the marketplace, helping businesses and governments make vital decisions and take strategic actions – and for this, they need the right technical knowledge, and at the same time, be agile enough to adapt and innovate strategically,” he said.
The competition, he added, challenges the students’ thinking and creativity and encourages them to showcase their ability to interpret, analyse and adapt under rigorous conditions to deliver outstanding tax solutions.
Partner and Co-Programme Director of the EY Young Tax Professional of the Year Malaysia Hisham Halim said the programme has grown tremendously over the years in prestige and reach among undergraduates.
“The international level of the competition will further take this a notch higher as the country winners compete for the title.
“These winners will be challenged with case studies and interviews before expert judges, who will be looking for evidence of creativity and analytical strengths, as well as practical skills,” he said.
Hisham added that the Malaysian panel of judges were impressed by the standard of this year’s submissions and the oral presentations of the case study by the finalists. “We have no doubt that Mike will do Malaysia proud at the international competition,” he said.
Partner and Co-Programme Director of the EY Young Tax Professional of the Year Malaysia Farah Rosley was also present.