OECD Base Erosion and Profit Shifting (BEPS) in the GCC Countries

OECD Base Erosion and Profit Shifting (BEPS) in the GCC Countries - What does it mean for multinational companies (MNCs) with a presence in the region?

Understanding the relationship between IFRS and the OECD BEPS Action Plan may reduce the risks of non-compliance. We will discuss several case studies showcasing the relationship between these two topics and how they will impact MNCs' statutory accounts.

With KSA, Oman, Bahrain and the UAE joining the OECD Inclusive Framework on BEPS, it is expected that the implementation of the four minimum requirements shall follow in the near future. Despite not being part of this framework, Kuwait has implemented similar regulations which share the objectives of the OECD BEPS. The speakers on the panel will share their experiences looking at MNCs dealing with such regulations in their respective jurisdictions.

Agenda

• 08:30 Networking followed by breakfast
• 08:55 UAE National Anthem and Quran recitation
• 09:00 Opening remarks: Dr. Khalid Maniar, Founder & Managing Partner - Crowe UAE
• 09:15 IFRS as a bridge to be in compliance with OECD BEPS: Case studies of IFRS 9 and IFRS 15 James Ravi, Director IFRS; Crowe Oman and Markus Susilo, Tax Partner - Crowe UAE
• 10:00 OECD BEPS Developments in the GCC Countries and their impact on MNCs that have a presence in the region. Moderator: Piergiorgio Valente (Crowe Italy and President of the CFE Tax Advisers Europe)
• 10:30 Panel discussion with the following topics to be covered: KSA Challenges in Transfer Pricing Laws for Multinationals in KSA and KSA Multinationals Oman How has the implementation of the BEPS Action Plan impacted Omani local regulations? E.g. corporate income tax, CRS, MLI position Kuwait Taxation for foreign subsidiaries and companies in Kuwait Bahrain Developments in the OECD Minimum Requirements Following the Signing of the BEPS Inclusive Framework on 11 May 2018 UAE The significance of the UAE Economic Substance Regulations to MNC’s presence in the UAE and possible future developments related there to Followed by a Q&A session for the audience.
• 11:00 Vote of thanks: Zayd Maniar, International Liaison Partner - Crowe UAE

 

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