Tax leaders and experts convene at KPMG’s MESAC Tax Summit

More than 300 C-suite executives, leaders and practitioners came together at KPMG’s Future-Ready Tax Summit, to discuss the latest trends and developments in the region’s evolving tax landscape.

Focused on the Middle East, South Asia and Caspian (MESAC) region, the Tax Summit from KPMG saw delegates from 30+ countries convene, including business executives, leaders of tax and finance functions, and KPMG experts.

Delegates were presented with keynotes from high-profile speakers, an action-packed agenda featuring workshops, sessions and panel discussions, and the opportunity to network with peers to nurture opportunities and foster collaboration.

Joe Pacelli, Head of Tax at KPMG Lower Gulf, said: “The KPMG MESAC Tax Summit is a platform designed to foster meaningful dialogue and collaboration among tax professionals. This year’s Summit saw insightful discussions on critical tax matters and innovative strategies to navigate an ever-changing environment and addressed the most pressing tax issues facing businesses today.”

One of the main topics on the agenda was the rapidly evolving regulatory landscape, with the likes of Saudi Arabia, UAE, Oman, and Bahrain all seeing major changes in legislation implemented in recent years. This includes changes to corporate tax and value-added tax, as the region aligns with international standards.

The evolving tax landscape has placed tax squarely among the priorities for CxO’s and Tax leaders, underscoring the need for executive teams to prioritize tax transformation and digitization.

At the Tax Summit, professionals discussed how best to deliver the transformation needed, with better information, regulatory compliance, reporting, and performance outlined as key priorities.

Not surprising, technology was an integral part of the discussions and solutions put forward. The Tax Summit highlighted that the evolution of taxation is closely intertwined with technological advancements. It emphasized that the trajectory of tax practices isn’t solely confined to regulatory adherence; instead, it necessitates a proactive embrace of technology, cultivation of proficient teams, and strategic adaptation to dynamic circumstances. 

The speakers underscored the pivotal role of artificial intelligence (AI) in streamlining operational processes, data analysis, and strategic foresight within the tax domain. 

Experts also debated the ways in which global trends in tax may impact the region, the future of the tax function, mergers & acquisitions, Base Erosion and Profit Sharing (BEPS), VAT and more.

“The event provided an invaluable opportunity for tax professionals, business leaders, and policymakers to connect, share best practices, and stay ahead of the curve in a dynamic tax environment,” said Pacelli. “At KPMG, we already look forward to the next edition.”