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Tax and Transformation in MESA’s New Business Reality

Many Middle Eastern countries are looking to their tax systems to attract foreign investment and become more globally competitive. While volatility remains in some countries in the region, others are building strong economies and there are opportunities for foreign investors who do their homework.

Tax and Transformation in MESA’s New Business Reality
Welcome to the new business reality.

Surging economies, strained infrastructures, aggressive tax audits and record levels of tax disputes: faced with complex challenges like these, tax directors need to take forward-thinking approaches to re-imagine their operations and re-shape their long-term strategies in response.

As the world emerges from the most severe recession in decades, the desire of governments globally to rebalance their books and guard against future downturns has rarely been stronger. In many countries in the Middle East and South Asia (MESA) region, tax enforcement and reform are emerging as key components in the drive to create vibrant and stable economies.

At KPMG, one of our top priorities is helping our member firm’s clients manage tax transformation and innovation and position their businesses for future success:
- We survey tax executives, government leaders, company directors and executives around the globe to discover the most pressing issues and gain their insights on optimal approaches in response.
- We study how the tax functions of global companies around the world are harnessing good practices and technology in order to manage this complexity and create value.
- We use this knowledge to develop benchmarks, processes and frameworks that help tax functions implement comprehensive and practical solutions to complex problems.
- We work with policy-setters and tax authorities to help develop effective taxation systems and influence tax policies in ways that help meet fiscal objectives while helping businesses compete.

As many of the articles in these pages show, companies with investments in the Middle East need to make transformation and innovation their highest priorities, and KPMG’s tax professionals can help guide the way. For example, KPMG’s framework for helping to ensure your company is prepared to defend against tax disputes is equally effective across the global spectrum, from simpler tax regimes to more sophisticated – and aggressive – audit approaches.

KPMG’s network of member firms aims to help you adapt and respond quickly to new risks and opportunities – and help give you a competitive edge. Our goal is to cut through the complexity of the new business and economic reality and deliver practical ideas and forward-thinking approaches to help you position your business for future success.

Greg Wiebe
Global Head of Tax
KPMG International

The Future Focus – Tax and Transformation in MESA’s New Business Reality magazine looks at some of the key differences between the tax regimes across the Middle East and South Asia, as well as some of the opportunities and key considerations for companies considering entering this market.

- UAE and Bahrain’s double tax treaties – accessing the benefits
Common problems encountered by foreign entities trying to access the benefits of double tax treaties in Bahrain and the United Arab Emirates.

- United States loosens exemption for sovereign wealth funds
A summary of the United States exemption for sovereign wealth funds and the opportunities it creates for foreign governments.

- Growing pains for Saudi Arabia’s withholding tax
An overview of Saudi Arabia’s withholding tax regime, companies’ compliance obligations, and other difficulties that companies may experience.

- Creating a taxable presence in the Gulf Cooperation Council
An overview of what criterion Middle Eastern countries are using determining whether non-residents’ business activities create a taxable presence in their countries.

- Investments in infrastructure - due diligence blueprint
This article discusses some of the tax implications that foreign investors need to consider when making investing in infrastructure in the Middle East.

- Tax health check - are you audit ready?
This article discusses how to reduce audit risk in the middle Eastern region with a tax health check-up.

- Iraq – open for business
Iraq’s economic progress, tax incentives and exemptions, and other opportunities for investors.

- Libya – back from the brink
Libya’s tax system, tax in Libya, middle east tax, investing in Libya, investing in the middle east, foreign investment Libya.

- Egypt – red tape ties up treaty benefits
Egypt’s economic progress, tax incentives and exemptions, and other opportunities for investors.

- South Asia – tackling low compliance through tax reform
How Pakistan, Bangladesh, Sri Lanka and Afghanistan are tackling low compliance through tax reform.

Read the full magazine below (PDF 36 pages) :

Lundi 17 Décembre 2012