The Inclusive Framework of the Organization for Economic Co-operation and Development (OECD) is expected to amend the rules for large Multinational Enterprises (MNEs). This is to determine how much of their income should be subject to tax in jurisdictions in which they sell their products, with a potential global implementation as early as 2023. As you may know, this effort received an extra boost ever since the new US Biden Administration showed their support for OECD’s consensus-based solution.
In addition, the OECD has recently released reports on Pillar One and Pillar Two Blueprints for the OECD G20 project on the taxation of the digital economy, related consultation documents and an impact assessment report.
Middle East businesses with global operations will be impacted by these developments. Deloitte held a webinar on Wednesday, 16 June 2021 to assist with the preparation process to ensure compliance. The topics discussed are listed below:
- Introduction/background
- Pillar One key update
- Pillar Two key update
- Economic analysis and impact assessment
- Next steps and timeline
Meet the speakers
Muhammad Bahemia
As the COO of the Tax business line, Muhammad oversees all aspects of the Tax business operations across the region by designing and implementing tailored business strategies and effective processes and procedures in order to support the growth of the Deloitte tax practice. Muhammad also leads our Middle East Business Tax service line. In addition, he is Chair of the Partners Council and is representing DME on the NSE Board of Directors. With over 25 years of professional experience in advisory, audit and tax, Mouhammad joined Deloitte & Touche in our Special Services Division (SSD) Office in December 1992. Muhammad has been actively involved in many tax consulting engagements. His experience covers a large number of industries particularly oil and gas, construction, utilities, financial services and consumer business. Some of Muhammad’s recent experience include: Advising various companies about setting up and business tax issues in Qatar and Oman Advising local companies with global footprint about their PE risks in foreign jurisdictions Providing Due Diligence advice to companies with regard to their foreign / local acquisitions Advising companies on structuring their inbound and outbound investments Muhammad is a Fellow Member of the Institute of Chartered Accountants in England & Wales (FCA).
Rami Qudah
Currently based in Qatar, Rami joined Deloitte in 1999 working in the Audit and Assurance service line. Few years later, he ventured into Tax, supporting the Business Tax team in Qatar. In 2004, he spent 18 months with Deloitte in the U.S. where he gained additional insight on the local jurisdiction. In 2019, Rami was appointed as the Jordan Business Tax Leader supporting businesses with operations in the country and potential investors. As of 1 June 2021, Rami was also appointed as the Qatar Business Tax Leader engaging on some of the biggest clients with an exposure spread across a variety of industries. Rami also acts as the Middle East Tax Talent Partner leading initiatives around people and purpose.
