Tax governance in the Middle East has been saved
Tax governance in the Middle East
Governing tax activity within your business
Companies sometimes view the Middle East as a benign region from a tax perspective, but in actuality, the tax regimes that do exist can be complex and challenging to manage especially with the introduction of Value Added Tax (VAT) and changes likely to be made in response to the Base Erosion and Profit Shifting (BEPS) action items and significant issues arising in areas like compliance.
However, even with the increased tax transparency and higher standards of tax governance and risk management, still many businesses in the Middle East do not have dedicated in-house tax teams that develop, monitor and enact tax strategies that provide additional detail, supplementing their overall tax strategy.
Publishing a tax strategy is therefore essential for businesses in the Middle East, especially for those that conduct business activities in other jurisdictions (whether within the Middle East region or further beyond). To guide these businesses through their tax governance journey, Deloitte has developed a brief document highlighting the below:
- Key considerations for businesses in the Middle East
- What is a tax strategy?
- Why do businesses need a tax strategy?
- Who is responsible for a tax strategy?
- How Deloitte can help