EY annual tax seminar explores latest trends shaping Kuwait’s tax landscape

EY annual tax seminar explores latest trends shaping Kuwait’s tax landscape

KUWAIT: EY organized a seminar covering key tax topics relevant to businesses operating in Kuwait. The event provided the latest updates on the local, regional, and global tax environment, tax policies, recent tax trends across the MENA region with a focus on the GCC as well as sustainability.

Ahmed Eldessouky, EY Kuwait, Qatar and Oman Tax Leader, says: “In this fast-evolving tax environment, it is a new imperative for businesses to keep themselves updated on and aligned with local, regional, and global tax developments and manage related risks. Companies may need to revisit their operating models to consider tax as a function alongside finance and enhance their use of technology to address the new requirements. To be thoroughly prepared for changes in taxation, they must start the process well before the government makes any new official announcements.”

The tax seminar saw the participation of tax officials from the Ministry of Finance as well as over 200 CFOs, tax directors, tax and finance managers, lawyers, and business owners. EY global and regional tax leaders shared their insights on various topics, such as CT in the UAE, updates on Kuwait tax and zakat, governance in family businesses and ESG components related to tax. They