Deloitte collaborates with KOTRA and KDIPA to support Korean investments in Kuwait and the Middle East
29 January 2019 - With an increasing number of Korean companies investing in the region, the Korea Trade-Investment Promotion Agency (KOTRA), in cooperation with the Kuwait Direct Investment Promotion Authority (KDIPA) has been continuously working on laying a foundation for a strong economic relationship between the nation and the Middle East.
Joining KOTRA and KDIPA in this initiative as official tax advisor is Deloitte Middle East Tax which has set up a dedicated Korean desk in its Kuwait and Dubai offices to serve Korean businesses to the fullest.
“With the rapid developments in the Kuwait tax environment and the new tax incentives that have been provided to companies that are seeking long-term projects, Deloitte is committed to helping Korean companies optimize their tax approach to investing in the region,” said Ihab Abbas, Partner and Kuwait Tax Leader,Deloitte Middle East.
As part of this initiative and for the second consecutive year, Deloitte has run a Tax Seminar Brief with KOTRA and KDIPA to provide businesses with an opportunity to reflect on developments in the tax, FDI law and regulatory landscape. The seminar took place on January 20, 2019 at the Jumeirah hotel, and was attended by senior officials from the Kuwait Direct Investment Promotion Authority, senior officials from the tax department of the Ministry of Finance, senior officials from KOTRA. The Deloitte event was also attended byofficials from the Korean Embassy including the Korean Ambassador, Dr. Hong Youngki, and the Economic and Commercial Attache Korean Bar Member,Mr. Jeong Seunghyun.
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About Deloitte & Touche (M.E.):
Deloitte & Touche (M.E.) (DME) is a licensed member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is a leading professional services firm established in the Middle East region with uninterrupted presence since 1926. DME’s presence in the Middle East region is established through its affiliated independent legal entities which are licensed to operate and to provide services under the applicable laws and regulations of the relevant country. DME’s affiliates and related entities cannot oblige each other and/or DME, and when providing services, each affiliate and related entity engages directly and independently with its own clients and shall only be liable for its own acts or omissions and not those of any other affiliate.
DME provides audit and assurance, tax, consulting, financial advisory and risk advisory services through 25 offices in 14 countries with more than 3,300 partners, directors and staff. It has also received numerous awards in the last few years which include, Middle East Best Continuity and Resilience provider (2016), World Tax Awards (2017), Best Advisory and Consultancy Firm (2016), the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW), as well as the best CSR integrated organization.
The information contained in this press release is correct at the time of going to press.