Evolving global tax regulation drives demand for specialist tax advisors in the Middle East
- Deloitte recognized as a tier one Tax practice in the GCC according to the International Tax Review, World Tax 2015
2 November 2014 - Rapidly evolving global tax regulations are having far-reaching implications for businesses and their senior management in the Middle East. Greater scrutiny and uncertainty are putting businesses under the microscope – in a local and international capacity – more than ever before, with proposals for new laws, compliance and regulations moving tax from an internal department onto the boardroom agenda. Businesses continue to be affected by the OECD BEPS (Base Erosion Profit Shifting) initiative, EU and G20 agendas, especially those with a global footprint.
In this light, it is becoming increasingly important for Middle East businesses to be prepared for this relatively new era in tax sophistication, which often requires specialist tax advice. Knowing where to find such advice, and which firm to trust, is made easier by the existence of highly-regarded industry barometers such as The International Tax Review World Tax 2015, which has designated the Deloitte Tax practice a tier one ranking in the GCC for 2015.
According to the International Tax Review, a tier one ranking is awarded to a firm that has an “International network and leading reputation in their own jurisdiction”. The process of collecting the data globally for World Tax 2015 was rigorous with researchers interviewing tax executives and advisers by phone, e-mail and in-person to compile the tiers of leading firms and write the commentaries for 56 jurisdictions. According to Ralph Cunningham, Managing Editor, International Tax Review, each piece of information supplied was impartially verified to ensure opinions were based on evidence, not hearsay. Rankings are based on firms’ breadth and depth of resources and experience, as well as quality of work.
“We are pleased to once again be recognized by World Tax as a leading top tier tax team in the GCC,” said Nauman Ahmed, Partner in charge of Tax at Deloitte Middle East. “Our continued success in the World Tax rankings is a testament to the quality of the work and relationships of Deloitte Middle East. We remain committed to working with our colleagues across the Deloitte global network to provide clients operating or investing in the Middle East with the highest level of professional advice that is seamlessly delivered across borders.”
The Deloitte Middle East tax practice is part of a global network that includes approximately 28,000 member firm tax partners and professionals’ worldwide, allowing clients to access recognized specialists - locally, regionally, and globally. It has been recognized as a top tier GCC tax practice since 2010.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.
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About Deloitte & Touche (M.E.):
Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence since 1926.
Deloitte is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with around 3,000 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has received numerous awards in the last few years which include Best Employer in the Middle East, best consulting firm, and the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).