Participants during the seminar, yesterday.
Doha, Qatar: PwC Middle East held its annual tax seminar in Qatar yesterday, at the W Doha Hotel, where various experts from the firm highlighted the upcoming fiscal, tax and regulatory developments which could impact businesses, the opportunities and challenges of doing business in Qatar and needed steps for businesses to prepare themselves to deal with the upcoming changes.
The event was attended by clients and industry specialists from Qatar based businesses, where there was a rich agenda covering updates on domestic income taxation as well as indirect taxation. It also focussed on the impact of the introduction of Global Minimum Tax/Pillar II on multinational enterprises based in Qatar, Environmental, Social & Governance (ESG) initiatives (including carbon taxes) and much anticipated introduction of VAT. The seminar highlighted the need for building advanced tax functions, including use of technology for efficient tax management and compliance.
Sajid Khan, Tax & Legal Services Leader in Qatar at PwC Middle East, said: “We are dedicated to providing the requisite knowledge and tools necessary for businesses to thrive in the ever changing tax environment resulting from global tax developments like Global Min Tax/Pillar II, ESG and the introduction of VAT. GCC countries are prioritising economic and fiscal reforms due to support the economic growth agenda (i.e. attracting FDI) and comply with obligations arising from international tax initiatives. This would require shaping adaptable regulations, improving systems, and enhancing the capabilities of tax administrations and businesses. PwC Middle East in Qatar is dedicated to supporting businesses on this transformative journey.”
Bassam Hajhamad, Qatar Country Senior Partner and Consulting Lead at PwC Middle East in Qatar, said: “This seminar reaffirms our commitment to empowering businesses in Qatar with the latest insights and developments to navigate the evolving tax and legal landscape. With a comprehensive roadmap to economic diversification and transformation, tax policies and regulations play a crucial role in facilitating investment and fostering a competitive business environment in Qatar."
