17 September 2023; Manama, Bahrain - PwC Middle East in Bahrain hosted its annual Tax seminar, “Navigating tomorrow’s possibilities” on Sunday, September 17, in Bahrain.
The event served as a platform for in-depth discussions on a wide variety of critical topics within the tax landscape in Bahrain. Among the themes explored were the latest updates in implications of Pillar II and CIT, and the significance of ESG and carbon tax in the business world. Additionally, expert insights and strategies were provided by PwC Middle East professionals for optimising transfer pricing, an important consideration for companies engaged in international operations.
Accomplished thought leaders, stakeholders, analysts and media joined PwC Middle East at Bahrain's annual Tax seminar, where further engaging panel discussions were featured and provided valuable insights including Q&A sessions. This event was a testament to PwC Bahrain's commitment to nurturing expertise, supporting and guiding businesses in navigating the tax and legal challenges.
Mohamed Al Mahroos, Country Senior Partner in Bahrain, PwC Middle East said: “This seminar is a platform for our guests to deep dive into the endless opportunities within Bahrain's evolving tax environment. It highlights our dedication to supporting businesses with the tax knowledge and expertise essential for their growth. Bahrain's dynamic tax landscape is filled with potential, serving as a testament to our commitment to empowering businesses in our community.” Al Mahroos added: “We will ensure that our clients will continue to be able to leverage the excellent expertise and capabilities the PwC network has to offer in order to support the Kingdom and its vision.” Furthermore, PwC Middle East continues to invest in Bahrain and has recently announced its plans to establish a new service delivery centre in Manama. In this context, Al Mahroos concluded: “The centre will serve the needs of clients based both in Bahrain and around the region, while creating opportunities for Bahraini employees, indicating our continued commitment to delivering sustained outcomes for our clients in our region.”
Mohammed Yaghmour, Tax & Legal Services Leader at PwC Middle East, said: “The GCC nations are making economic and fiscal reform a top priority for regional governments. Attracting Foreign Direct Investments (FDI) stands out as a pivotal aspect of this endeavor, with an emphasis on the crucial role that effective tax policies play. Investments play a vital role in developing adaptable tax laws and regulations, enhancing systems and strengthening the capacity of tax administrations”.
He added: “This seminar highlights our commitment to providing businesses with the knowledge and expertise needed to thrive in Bahrain's evolving tax landscape. As regional governments, the GCC prioritises economic and fiscal reform, as effective tax policies are integral to this effort. Investments will drive the development of adaptable tax laws and enhance tax systems. We anticipate all GCC countries will embrace tax technology solutions in the next three to five years, enabling real-time monitoring and auditing of tax and taxpayers. PwC Middle East in Bahrain is dedicated to supporting businesses on this transformative journey."
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