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TaxFlash

18 February 2021

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This TaxFlash has been designed to keep our valued clients up-to-date with relevant tax developments. Please contact the Keypoint tax team if you have any questions about this TaxFlash. Click here if you'd like to be added to our mailing list.
Bahrain
  • The OECD has released its MAP Peer Review Report (Stage 1) titled 'Making Dispute Resolution More Effective' under action 14 of the BEPS initiative. See our technical tip for more information.
  • Bahrain-based businesses offering specific services listed by the Ministry of Industry, Commerce and Tourism (MoICT) need to report on their economic substance by 31 March 2021. See our alert below for more details.
Saudi Arabia
  • The General Authority of Zakat & Tax (GAZT) has made updates to their website to include further information on the new e-invoicing rules. You can now find the following in English on the website: Regulation, Guidelines, FAQs. Details of e-invoicing service providers will be released soon.
Oman
United Arab Emirates
Qatar, Kuwait
Technical tip
MAP Reports

What is MAP?
 
MAP is the mutual agreement procedures agreed between the tax authorities of countries to improve the existing international tax disputes resolution procedure and to develop a supplementary dispute resolution mechanism. In the event a taxpayer disagrees with the tax authorities on an international tax matter, the taxpayer may initiate a MAP in order to resolve the conflict arising due to the different interpretations of the tax authorities.
 
What taxes are covered under MAP?

Below are few examples of taxes covered under MAP:
  • Transfer pricing issues involving cross border transactions.
  • Withholding tax issues regarding interpretation of the application of double tax treaties.
  • Income tax issues regarding permanent establishment of the contracting state.
  • Tax issues relating to the application of treaty anti-abuse provisions.
MAP also covers the cases where taxpayers are allowed to request for MAP assistance in cases where the issue under dispute has already been decided via the judicial and administrative remedies provided by the domestic law of your jurisdiction.
Our services

Our recently updated tax services brochure gives you a clear and succinct summary of the current tax landscape in the GCC. Click on the image for more details - or speak to your regular Keypoint contact for more details:

Mark Gamble
Head | Indirect tax

mark.gamble@keypoint.com
+973 3833 8641
+973 1720 6872

Raman Ohri
Head | Direct tax

raman.ohri@keypoint.com
+973 3516 2335
+966 50 286 4266

Tariq Haq
Manager

tariq.haq@keypoint.com 
+973 1710 3480
+973 3628 3351

Dinesh Ravi
Manager

dinesh.ravi@keypoint.com 
+966 13 845 9228
+973 3628 3359

Adil Fawzi
Manager

adil.fawzi@keypoint.com 
+966 13 845 9226

+966 5 3251 0366
Website
Link

© 2021 KEYPOINT - DISCLAIMER

TaxFlash is intended to provide general updates in relation to tax in the GCC. It is not a substitute for professional advice. You should seek appropriate professional advice from a tax advisor before making any decision relating to your particular circumstances.
 
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