Globally, we see legislative and regulatory changes increasing the cross-border flow of foreigners and investment – in part through tax. People relocate for many different reasons – climate, education, lifestyle, and business opportunities – and different locations appeal to different people.
Based on recent media coverage, the Kuwait government is discussing a tax proposal (“the Proposal”) to introduce a Business Profit Tax (“BPT”) at a rate of 15% on all legal entities operating in Kuwait. The Proposal is largely driven by the impact that Kuwait may face due to Pillar Two framework...
On 15 November 2023, the Organization for Economic Co-operation and Development (OECD) announced that Kuwait has joined the Inclusive Framework on Base Erosion and Profit Shifting (IF), which brings the total number of IF members to 145 as of the date of this document. By joining the IF, Kuwait...
Tax continues to change and grow across the GCC. To keep you briefed on all the changes, we bring you our GCC tax round up for the third quarter of 2023, with clear, concise updates and insights from our experts around the Gulf.
The OECD’s Pillar Two framework aims to ensure multi-national enterprises (MNEs) with global revenues above €750 million pay a minimum tax rate on income within each jurisdiction in which they operate. Commonly referred to as BEPS 2.0, the framework imposes a Top-Up Tax on profits arising in...
A sustainability report is a means to communicate a larger strategy and report on its progress, helping an organization foster both transparency and accountability. Developing a report offers teams across an organization the opportunity to work together to create a more sustainable organization...
Tax continues to march forward in the GCC. In this edition of our quarterly tax newsletter for the GCC we bring you an update on the major tax news from around the region. The biggest news in the region comes from the UAE, where the implementation of corporate tax is in full swing.
Our survey results reveal a trend that makes a difference in business outcomes: Tax leaders who play a larger role in setting overall business strategy are driving positive business performance. We refer to this trend as the rise of the Tax Strategist, moving beyond the role of Tax Tactician to...
The following are questions for boards and management teams to consider in executing a risk mitigation strategy to address the organizational impact related to global tax reform under the Organization for Economic Co-operation and Development’s Pillar Two rules enacting a global minimum taxation.