KPMG Hosts Annual Tax Summit 2024

(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: KPMG in Qatar successfully hosted its Annual Tax Summit at the Alwadi Hotel in Msheireb, bringing together esteemed experts, clients, and industry specialists to delve into the imminent fiscal, tax, and regulatory changes shaping Qatar's business landscape.

The summit addressed pivotal aspects such as national and international tax updates, an overview of Qatar Free Zone, the much-anticipated implementation of VAT, E-invoicing, as well tax assessment and litigation.

The engaging sessions aimed to equip businesses with the knowledge and strategies needed to navigate the evolving tax environment effectively.

The first of the esteemed speakers, Khalil Khbabez, Tax Manager at KPMG in Qatar highlighted the changes and additions brought by the new tax law to the concept and rules of“Permanent Establishment” and how this can affect the way of operating and doing business in Qatar, mentioning“The State's shift toward taxing foreign income sources underscores the need for companies to adapt their tax functions strategically.”

Nouman Azam, Tax Manager at KPMG in Qatar took the stage to discuss the changes in tax residency criteria for individuals and legal persons followed by discussion on the Economic Substance Regulations (“ESR”) and the requirements to disclose Ultimate Beneficial Ownership (UBO).

The session was concluded with a quick refresher on the Global Minimum Tax (i.e., BEPS 2.0 Pillar two rules) and the updates on recent developments of tax treaties between Qatar and other GCC / regional countries.


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