Webinar: Tax reforms in MENA – Ongoing digitisation, e-invoicing and BEPS
International Tax Review is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Webinar: Tax reforms in MENA – Ongoing digitisation, e-invoicing and BEPS

Sponsored by

sponsored-firms-thomson-reuters.jpg
Join the webinar on November 22 at 10am GMT / 2pm GST

ITR and Thomson Reuters hosted a webinar on November 22 to discuss the continuing tax transformation in the Middle East and North Africa region.

 




 

Watch ITR’s webinar on tax reforms in the Middle East and North Africa (MENA) region, including ongoing digitisation, e-invoicing and BEPS 

In association with Thomson Reuters, the live webinar took place on November 22 at 10am GMT / 2pm GST.

In this webinar, the panel discussed the latest tax trends in the MENA region. 

Tax transformation and the role of modern tax technology

In the MENA region and globally, technology has a growing role in tax compliance.

According to PwC’s 2021 Middle East Tax Leaders Survey, 63% of organisations say digital enablement is a strategic priority for the next one to three years, half plan to be automated within two years, and a further 40% say they will be automated within five years. 

Upcoming e-invoicing regime developments in the GCC

Many of the region’s tax authorities are ahead of the digitisation curve, already using electronic payments and online portals. The next step is e-invoicing. The panel of experts look at upcoming e-invoicing regime developments in Saudi Arabia and Egypt, and discuss how organisations can make sure they have the technology capabilities to stay compliant. 

In May 2021, the Zakat, Tax and Customs Authority published guidelines and standards, making it mandatory for all eligible taxable persons to develop the capabilities to generate and store electronic invoices. Phase one of the e-invoicing implementation will be in force from December 4 2021. In Egypt, the mandatory e-invoicing regime is already underway. As of January 2022, VAT will no longer be deductible from paper invoices. 

New tax regulations, including impact of BEPS 2.0 on the Middle East

Following on from the original OECD BEPS package to tackle profit shifting and tax avoidance, the OECD and the G20 Inclusive Framework have introduced a new initiative – known as BEPS 2.0 – to address tax challenges arising from digitalisation. This comprises two pillars: 

  • Pillar one aims to ensure a fairer distribution of profits and taxing rights with respect to the largest MNEs, by re-allocating some taxing rights over MNEs to markets where they have business activities and earn profits, no matter whether firms have a physical presence there; and

  • Pillar two introduces a global minimum effective tax rate of 15%, to put a floor on competition over corporate income tax. 

The webinar explored the potential impact that pillar one and pillar two could have on KSA, UAE, Bahrain, Oman and other countries in the Middle East that are members of the Inclusive Framework. 

The 60-minute webinar was moderated by Hari Ganesh Kumar of Thomson Reuters, and facilitated by ITR. The webinar was followed by a Q&A session.

Prepare for the future: Discover what steps your business can take today. Watch the webinar now.


hari-ganesh-kumar.png

Hari Ganesh Kumar

Enterprise proposition lead, ONESOURCE, Asia and emerging markets

Thomson Reuters

LinkedIn profile

Hari Ganesh Kumarleads Thomson Reuters ONESOURCE technology propositions across Asia-Pacific, India, MENA and Africa.

As enterprise proposition lead, Hari works with large organisations propelling their adoption of technology to meet their global tax and accounting compliance and reporting requirements.

In addition to driving engagement and ensuring customers get the most out of the ONESOURCE suite and services, Hari’s goal is to grow the ONESOURCE business across the region.


thomas-vanhee.png

Thomas Vanhee

Partner

Aurifer Middle East Tax Consultancy

LinkedIn profile

Thomas Vanhee is a partner at Aurifer Middle East Tax Consultancy and affiliate professor of tax law.

Thomas founded Aurifer, a boutique tax firm established in Dubai, after a decade of working at tier 1 tax law firms in Brussels and Paris, and after having been seconded with Deloitte in the Gulf. He has been involved in several high-profile deals and worked for blue chip and quoted companies and institutions in various sectors. He has also been heavily involved in tax policy in Europe and the Gulf. Recently, he has been assisting businesses in assessing their readiness for the introduction of VAT on January 1 2018.

Thomas teaches VAT at Paris Sorbonne Abu Dhabi in the first tax LLM of its kind in the Gulf. He also joined his former university (Solvay Brussels School of Economics and Management) to teach an introductory course on tax law to master students.


saad-demehati-100.jpg

Saad Demehati

Engagement Manager

Oliver Wyman

LinkedInprofile

During his career, Saad Demehati focused on strategy and large implementation programmes for public and private entities in Europe and the MENA region.

Saad has extensive experience working with Ministries, Tax and Customs Authorities on their large-scale tax, customs and e-invoicing programmes, including strategy, digitisation and national roll-outs.

Prior to Oliver Wyman, Saad was a quantitative analyst in Société Générale Bank in Paris.


syed-jafri-100.jpg

Syed Jafri

Partner

Oliver Wyman

LinkedInprofile

Syed Jafri has extensive experience working with Finance Ministries on their fiscal programmes, including supporting end to end buildup of tax authorities, launch of indirect taxes and design and deployment of sophisticated tax fraud prevention programmes.

more across site & bottom lb ros

More from across our site

KPMG has exclusive access to the tool for three years in the UK, giving it an edge over ‘big four’ rivals
But the US tax agency’s advice is consistent with OECD guidance and shouldn’t surprise anyone, other experts tell ITR
A survey of more than 25,000 in-house counsel reveals that diversity initiatives are a high priority when choosing external counsel
The report is aimed at helping 'low-capacity countries', the OECD has claimed
The UK tax agency appears to be going after easier, lower value targets, one lawyer has claimed
Criminal experts have told ITR that the case of Ulf Johannemann emphasises the fine line between tax avoidance and tax evasion
The ATO workers were among nearly 57,000 people who were duped into claiming fake GST refunds, while Kuwait signed a double taxation treaty with the UAE
However, ICAP may not provide the legal certainty of an APA and tax authorities will have limited capacity, experts argue
ITR+ has launched the Talent Tracker, an interactive database that collates reported partner moves across the legal tax market
The tool is available to more than 2,000 PwC tax professionals and is designed to boost client service
Gift this article