Event Details

The UAE's Ministry of Finance has announced that it will introduce a 9% federal corporate tax on business profits for financial years starting on or after 1 June 2023.


This development was expected following the OECD's agreement of a minimum corporate tax rate to achieve "a fairer distribution of profits and taxing rights among countries for the largest and most profitable multinationals".


Indeed the UAE's Minister of Economy confirmed at our annual conference back in October that the UAE would abide by the agreement. He also promised that existing fees for corporate activities would be simplified and reduced in parallel with the introduction of corporate tax.


So there is much to unpack in the recent announcements, and plenty for businesses to do in the next 16 months to prepare for the new regime.


To help our members understand their new obligations, we are convening a CEO Roundtable event on 24 February at which we will discuss - in the company of regional tax experts - the UAE's corporate tax plans and their implications for companies operating in the country.

Please note that this event is limited to senior-level executives and per invitation only. If you are not an existing member of The Economist Intelligence Corporate Network, but would like to learn how you can attend our events, please contact us.

Speakers

  • Robert Willock (Director, MENA of The Economist Intelligence Corporate Network)

    Robert Willock

    Director, MENA of The Economist Intelligence Corporate Network

    Robert is the Director of the Economist Intelligence Corporate Network based in Dubai and covering the MENA region. Robert works closely with network members to help inform their business strategies through political, economic and operational insight and to connect them with their senior leadership peers.
    Robert is a business journalist, editor and publisher with nearly 25 years of experience covering a wide variety of sectors, including hospitality, retail, construction, energy and transport, and a particular interest in human capital management.
    He is an accomplished event chairman, moderator and speaker.
    Robert completed an MBA at the University of Leicester School of Business in 2012 and holds a Bachelor's degree from the University of Nottingham.

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  • Shabana Begum (Partner - Global Transfer Pricing at KPMG Middle East)

    Shabana Begum

    Partner - Global Transfer Pricing at KPMG Middle East

    Shabana recently returned to KPMG Middle East from KPMG UK and brings more than 15 years of core Global Transfer Pricing experience; particularly with a focus on Financial Services, Sovereign Wealth Funds, Asset Management, and Transfer Pricing policy.
     
    Since 2017, Shabana has served as KPMG UK's Asset Management Transfer Pricing Leader and before relocating to the UK she actually founded and led KPMG Lower Gulf’s Transfer Pricing practice in 2015.
     
    Shabana is a UK Chartered Tax Adviser (“CTA”) and a prize-winning Fellow of the Institute of Chartered Accountants in England and Wales (“FCA”). Shabana holds a First Class degree with Honors from the University of Birmingham in the UK. In 2020, Shabana won the Finance Monthly Transfer Pricing Adviser of the Year Award and in 2019, Shabana was shortlisted at the London Asian Business Awards in Finance. Shabana is a regular contributor in the transfer pricing field, and has contributed as a subject matter expert on CNBC and other forms of media around the world.

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  • Claire Boushell (Transfer Pricing Manager at KPMG Middle East)

    Claire Boushell

    Transfer Pricing Manager at KPMG Middle East

    Claire is a Manager In KPMG’s Transfer Pricing team. Claire has 7 years of experience of working within Transfer Pricing and International Tax within the Irish Tax Authority and Big4 accountancy firms. Claire has a bachelor of Economics Honours degree from University College Dublin.

    Claire has been in the Middle East region for three years and previously worked with Big4 firms within the region. During her time, Claire has assisted clients with the introduction and amendments of transfer pricing focused regulations across the region, including the:
    Transfer Pricing Bylaws in the Kingdom of Saudi Arabia
    Transfer Pricing provisions in Qatar
    Update of the Transfer Pricing rules in Egypt
    Documenting compliance with the arm’s length principle through Transfer pricing documentation in Oman
    Country-by-Country Reporting across the region

    Claire has diverse sector experience including real estate, Oil & Gas, Metals & Mining, Logistics, Sovereign Wealth Funds, Construction, Information, Communication & Technology, manufacturing and retail & distribution. 

    Claire has worked on transfer pricing risk assessments and advisory projects, focused on developing customed transfer pricing policies for business specific operating models. These project types are dedicated in developing an efficient transfer pricing model and that is consistent with other taxes by not creating unforeseen additional tax obligation. The models are also designed to be easily implemented and applied by the group in practice and are robust to withstand tax authority queries. 

    Claire has also been involved in advising clients on various transfer pricing queries, such as treaty provisions, OECD guidelines interpretation assessing the scope and applicability of transfer pricing regulations, providing transfer pricing comments within Due Diligences and the attribution of profits to Permanent Establishments.

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