Business

Saturday February 7, 2009

Taxand making its mark as a leading tax consultant

By DANNY YAP


TAX advisory specialist Taxand Malaysia Sdn Bhd has grown by leaps and bounds since it was set up two years and has entrenched itself as one of the leading tax firms in the country.

In November, the firm bagged the Best Newcomer Award 2008 for Asia by International Tax Review for delivering the best-in-class cross-border tax advice this year.

Taxand Malaysia managing director Dr Veerinderjeet Singh says this is its third award, after Taxand, a global network organisation of independent tax firms, won the Best Newcomer Award 2008 in Europe and in the Americas.

“Taxand has over 2,000 leading tax advisers from independent member firms in 50 countries collaborating to provide quality tax advice,” Veerinderjeet tells StarBizWeek.

Dr Veerinderjeet Singh (right) holding a company brochure, while Datuk Peter Tang looks on.

The organisation specialising in tax issues was chosen by a panel from the Inland Tax Revenue’s editorial team following initial research into the perspectives of tax executives, in-house counsel, tax advisers and private-practice lawyers operating in the regions.

Veerinderjeet says Taxand Malaysia is a local boutique tax advisory firm with huge potential because of its affiliation with other tax advisers globally and is capable of providing tax advice and services to local clients operating businesses worldwide.

“We are able to leverage off each other’s strength (as tax advisers) within our global network of members and provide quality and relevant tax advice to clients quickly and at a competitive price,” he says.

Some of the services provided by Taxand Malaysia are corporate tax advice, international tax, and individual tax planning.

The firm also give advice on indirect tax, and tax compliance, and knowledge management, which includes tax-training workshops and seminars, newsletters for clients on the latest taxation develoment.

Veerinderjeet says an organisation providing specialised services should monitor and keep abreast with current tax developments to make sound business decisions.

“Our firm only addresses tax issues. We do not do audit and other accounting work. This makes us very speciliased in our field of knowledge and application,” he says, adding more of the larger companies prefer to outsource their tax requirements to independent tax experts rather than accounting firms.

Executive director Datuk Peter Tang says Taxand Malaysia’s strength is its ability to deliver quality tax services at competitive price due to its lower overhead cost and flexibility, compared with some of the big accounting firms.

“In the current economic climate, local companies and multinationals are likely to be more cost-conscious and selective in their service providers,” he says.

Tang also says the firm is pleased whenever there is a request for tax proposals or tender by listed companies or MNCs, the invitation will be extended to the big four accounting firms as well as Taxand Malaysia.

“This is very encouraging and a positive sign,” he says, adding that several companies have approached Taxand Malaysia for a second opinion and even third opinion on tax issues. “This speaks volume about the quality of the tax directors that we have,” he says.

Taxand Malaysia is a member of the Taxaland Global Alliance.

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