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
Muhammad is the leader of the Tax practice at Deloitte Middle East with leadership responsibility for a large number of tax professionals. He is also a member of the NSE Board of Directors and serves as an active advisory partner for several of Deloitte's largest multinational and local clients. Previously, Muhammad served as the Middle East Business Tax Leader, where he oversaw the expansion of his practice across the GCC. Muhammad also acted as the ME Tax Chief Operating Officer (COO) where he oversaw all aspects of operations, in addition to his role as Chair of the DME Partners Council. He joined Deloitte & Touche in the Special Services Division (SSD) Office in December 1992 and has spent over 31 years of experience in advisory, audit and tax. His experience covers a large number of industries, particularly oil and gas, construction, utilities, financial services and consumer business. Muhammad is a Fellow Member of the Institute of Chartered Accountants in England & Wales (FCA).
Rami Qudah
Rami Qudah is the Middle East Business Tax Leader, supporting businesses across the region with operations and potential investment opportunities. Previously, he was the Business Tax Leader for Qatar, Oman and Jordan. Rami joined Deloitte in 1999, working in the Audit and Assurance service line. A 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. In 2021, he 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. Additionally, Rami acted as the Middle East Tax Talent Partner, leading several initiatives around people and purpose.
