2018 KSA Tax and IFRS roadshow

Key updates and challenges

Deloitte and Touche & Co. - Chartered Accountants would like to invite you to the 2018 Tax and International Financial Reporting Standards (IFRSs) roadshow, to discuss the latest Tax and Zakat and IFRS updates and challenges. The roadshow is a two day event and will take place in Riyadh on November 11th and 12th, Jeddah on November 12th and 13th and Al Khobar on November 14th and 15th.

During this event, participants will have the opportunity to interact with a number of Deloitte’s core team of tax and audit professionals and specialists, who are dedicated to serving clients – locally and across borders.


Day 1: International Financial Reporting Standards (full day)

Deloitte will address the latest changes to the IFRS and adoption challenges, updates on revisions to the existing Standards and changes brought out by the promulgation of the new IFRS standards effective from years beginning on or after January 1, 2018 and 2019. The IFRS Roadshow will be held in Jeddah, Riyadh and Al Khobar, during November 2018 per the dates mentioned below.

Our IFRS specialists will share their practical implementation insights on the significant challenges faced by companies when transitioning to IFRS, the drastic changes to the standards and their impact on financial reporting as well as address certain complex financial reporting issues that are presented by such changes to the Standards. Following key topics will be covered.

  • IFRS 15 - Standard on Revenue from Contract with Customers which will have a significant impact on revenue recognition and related disclosures for all entities;
  • IFRS 9 - Recognition and measurement of Financial Instruments and impairment of accounts receivables based on expected credit loss model and other financial instruments;
  • IFRS 16 - Lease accounting which will have significant impact on lessee accounting for operating leases effective from January 1, 2019;
  • IFRS 1 - First time adoption of IFRS together with implementation guidelines;
  • Technical update on the post-adoption of IFRS Standards including IFRS 10, IFRS 12
  • Key differences between SOCPA standards and IFRS together with guidelines on how to assess the impact for “first time adopters” of IFRS; and
  • IFRS for SMEs and the main difference between full IFRS and “IFRS for SMEs”.

Background for the IFRS session

The Saudi Organization of Certified Public Accountants (SOCPA) has agreed to apply the International Financial Reporting standards (IFRSs). The application date for the preparation of financial statements for all entities, excluding listed companies in Saudi Stock exchange, is for financial periods beginning January 1, 2018. As the move to IFRS was inevitable, understanding the challenges in IFRS adoption is extremely critical to your financial reporting requirements.


Day 2: Key tax updates and challenges (half day)

Deloitte tax specialists will cover the following areas:

  • Key tax  and zakat updates including the impact of adopting IFRS from SOCPA standards on zakat and income tax.
  • Transfer Pricing – KSA. A summary of the main opportunities and risks for groups operating in KSA under the anticipated transfer pricing regime.
  • BEPS: KSA has signed the MLI – What does this mean to businesses? On September 18, 2018, the Kingdom of Saudi Arabia signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (“MLI”). The MLI is an international treaty that will implement a series of tax treaty measures. The measures provided for in the MLI will modify the bilateral double tax treaties (“DTAs”) concluded by KSA.  We will discuss the measures adopted by KSA and how they will impact companies operating with or inside KSA.
  • The tax technology considerations that companies should be taken into account throughout their tax journey.


Riyadh on November 11 and 12  

Jeddah on November 12 and 13

Al Khobar on November 14 and 15

Location: To be indicated in the confirmation email

Fees: SAR 2,500 per ticket, with an early bird booking discount of SAR 2,000 if booked by 10 October 2018

To register for the seminar, please complete the form available for your preferred location: 
Al-KhobarRiyadh or Jeddah