A recent seminar organised by KPMG focused on upcoming new tax system in Qatar and the rapidly changing tax and regulatory framework in the country and beyond.
At the event, titled ‘Navigating the future’, KPMG’s head (Tax and Corporate Services) Barbara Henzen explained to more than 150 tax and finance leaders that the most important part about changes to tax regimes is to be prepared.
Henzen said, “Taxation in Qatar is becoming increasingly more complex, mainly with the recently established General Tax Authority (GTA) that has become effective and has started to issue a lot of questions on tax returns and to issue assessments; Dhareeba as the upcoming new tax system, as well as the imminent introduction of transfer pricing and value-added tax. It is fair to say the taxes have arrived to Qatar.”
Enrique Guillen, Strategic & Quality consultant, GTA was a guest speaker at the event and introduced the new upcoming tax system.
He talked about taxation as one of the several ways to mobilise governmental revenue to manage an economy and to provide public services, about the purpose of a modern tax authority and the role of GTA.
He said, “Taxation will play an increasingly important role in realising Vision 2030, by diversifying the State of Qatar’s revenue base beyond hydrocarbons and achieving medium to long term social and economic policy goals.”
Henzen and KPMG in Qatar’s senior tax managers, Imran Ayub, Abhishek Jain and Uma Patankar talked on a number of subjects including recent changes in the tax landscape in Qatar and how to navigate through audits.
The seminar also covered main highlights of changes in the international landscape such as substance requirements, digital taxes and BEPS 2.0.
from Gulf Times https://ift.tt/34R9qDf
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