Dubai PR Network, Online Press Release from Dubai and Middle East
 
Legal & Consulting Firm(Government, Legal & Humanity)
Filter PR by
  
Deloitte: Transfer Pricing lands in the Middle East
 
  • Deloitte Middle East launches Volume 1 of its Transfer Pricing Whitepaper Series: Preparing for Transfer Pricing Legislation in the Middle East82% of respondents of the Deloitte survey agree that transfer pricing structures are under critical evaluation in the MENA region
Dubai, UAE, January 14, 2019:  Deloitte Middle East has launched the first volume of its whitepaper series to help businesses best prepare for Transfer Pricing (TP) Legislation in the Middle East. The first volume of the series covers the results of a Transfer Pricing client survey of businesses operating in the region. The whitepaper also provides key guidelines that businesses need to take into consideration when assessing the risks and opportunities arising from new transfer pricing regulations.
 
Transfer Pricing (TP) is a practice that allows for pricing transactions internally within businesses and between companies that operate under common control or ownership, including cross border transactions. A number of Gulf Cooperation Council (GCC) countries have started adopting transfer pricing regulations. Authorities from GGC countries have already signed the Base Erosion and Profit Shifting (BEPS) Inclusive Framework (IF) and have committed to applying four minimum standards. Other IF Signatories for the Middle East include Egypt and Tunisia with Kuwait signing the Multilateral Convention (MC) and Lebanon expected to sign soon. 
 
“With 82% of respondents of the Deloitte survey agreeing that transfer pricing structures are under critical evaluation in the MENA region, the opportunities are endless for businesses investing in the region. At Deloitte, we have an efficient transfer pricing structure that can assist companies manage risks and provide solutions to support their transfer pricing practices to achieve their tax objectives,” said Shiv Mahalingham, Deloitte Middle East Transfer Pricing Leader. 
 
Key findings from the survey 
 
The Deloitte survey was conducted with CFOs and key tax leaders in the region and the main findings included the following:
  • Transfer pricing compliance was a concern for 65% of respondents
  • 25% of respondents actually changed the group transfer pricing policy/structure within their firm in response to recent legislative developments in the region
  • 82% of respondents agree that transfer pricing are under greater scrutiny in the region
  • 50% of respondents noted that C-suite and board of directors have changed their views on tax planning since the adoption of regulations in the region; and,
  • 54% of respondents are concerned about increased media, political and activist group interest in corporate taxation
“With a number of transfer pricing regulations going to be introduced in MENA over the next few years, this should be viewed as opportunity to introduce a structured intra-group pricing framework to align with investment strategies and overcoming risks by implementing technology solutions that align with existing business systems,” said Nauman Ahmed, Deloitte Middle East Tax Leader.


Posted by : Dubai PR Network Editorial Team
Viewed 7320 times
PR Category : Government, Legal & Humanity
Posted on : Monday, January 14, 2019  2:13:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Hadef & Partners signs Memorandum of Understanding with Spec...
Next Story : Deloitte holds 2019 Middle East Tax Conference in Dubai: The...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Korea's Number One Beauty Brand Innisfree All Set to Celebrate the Grand Opening at the Du... [7399-Views]
6 Trends That Will Dominate Beauty in 2020 According to Foreo [7021-Views]
Made in Italy: Top Picks from the Latest Deborah Milano Make-Up Range [6478-Views]
Corum Admiral's Cup Legend 47 Worldtimer' [6283-Views]
Rado True Thinline Les CouleursTM Le Corbusier' [6259-Views]
Introducing Zeitun Premium Face Care Collection [6210-Views]
How to Beat Pigmentation with DERMAdoctor [6051-Views]
Emirates Post Issues Set of Commemorative Stamps for the New Logo for People of Determinat... [5533-Views]
Rate Hawk is Live with Global Innovations Flagship Product TassPro and Itinerary [5502-Views]
Achieve Gorgeous and Radiant Skin in Only 90 Seconds [5106-Views]
Spoil her this Mother's Day with gifts from Marks & Spencer [4984-Views]
Marks & Spencer, Britain's Best Loved Denim [4910-Views]
Enjoy a Selection of Anti-Aging Products from Beauty Solutions [4721-Views]
Swatch X 007 – Introducing the New James Bond Collection and Limited Special Edition [4581-Views]
Team Abu Dhabi Riders Grab Double Triumph On Dramatic Race Day in Kuwait [4429-Views]
Dubai Customs Graduates 1st Batch of “Dubai Customs Leaders” Program [4246-Views]
Dubai Chamber Honours Top-performing Trading Companies [4227-Views]
Aston Martin DBX Makes First Public Appearance in UAE [4197-Views]
Italian Food Exports to the UAE Increases by 11%, Reports ITA Ahead of Italian Participati... [4154-Views]
Ferragamo Sapphire Collection [4032-Views]
HRH the Prince of Wales Officially Opens the National Automotive Innovation Centre [3965-Views]
Spring is in the Air at West Elm [3947-Views]
The Award-winning #burjumanfoodart Festival is Back by Popular Demand! [3770-Views]
Buyers Rush for Majid Al Futtaim's First ‘Elan' Townhouses at Tilal Al Ghaf [3678-Views]
Marks & Spencer Unveils its All New Menswear [3587-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories