Saudi Arabia income tax and zakat update Refreshing perspectives

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1 Al-Khobar Monday, December 7, 2015 Riyadh Tuesday, December 8, 2015 Jeddah Wednesday, December 9, 2015 Saudi Arabia income tax and zakat update Refreshing perspectives

2 Seminar details The imperative Globalization and global regulatory reform continue to create challenges for companies. It is imperative to understand the increasingly complicated impact this will have on the tax, business and economic environment. For instance, the Department of Zakat and Income Tax s (DZIT) interpretation of what now constitutes a permanent establishment in KSA and the subsequent impact of internal guidelines issued to its divisions responsible for processing withholding tax (WHT) demonstrate this greater focus on transparency, and the complications that can arise from the interpretation and application of double taxation treaties for multinationals or non-residents. Deloitte s in-depth knowledge of applicable laws, practical understanding of the regulatory environment and cross-border connections, allow us to critically analyze scenarios and provide pragmatic solutions to complex business issues. As business leaders, it is imperative that you stay ahead of developments which have a tangible effect on zakat liabilities and tax exposures. is looking forward to welcoming you at the seminars in Al-Khobar, Riyadh and Jeddah Why should you attend? At this update event, we will disseminate practical and commercial analysis of the developments in the regulatory application and reporting of zakat and income taxes with DZIT. We are confident that you will leave this event with an understanding of key trends in how corporates are responding to increasing demands for information, in terms of legislature and issues around double taxation, amongst other key fiscal considerations. Participants will also have the opportunity to interact with a number of Deloitte s core team of tax professionals and specialists, who are dedicated to serving KSA clients locally and across borders. Saudi Arabia income tax and zakat update Refreshing perspectives 2

3 Agenda and tax leaders Time Agenda Tax leaders 08:30-09:00 Welcome coffee and seminar registration 09:00-10:30 Income tax and zakat update 10:30-11:00 Coffee break 11:00-12:00 Income tax and zakat update Nauman Ahmed Senior Director - Al Khobar and Middle East Tax Leader Tel +966 (0) :00-13:30 Prayer and lunch break 13:30-15:00 Global updates 15:00-15:30 Group Q&A Presenter: Nauman Ahmed Panel: Wissam Merhej, Farhan Farouk and Issa Ayash Key topics to be covered Transfer pricing and OECD s BEPs initiative Virtual Permanent Establishments Latest zakat issues Withholding tax and international tax considerations Application of tax treaties Wage protection system and its impacts Wissam Merhej Senior Director - Riyadh Tel +966 (0) Farhan Farouk Senior Director - Jeddah Tel +966 (0) Saudi Arabia income tax and zakat update Refreshing perspectives 3

4 Registration form Al-Khobar Participant 1 Participant 2 Date December 7, 2015 Venue Le Meridien Riyadh Arab National Bank, Dammam main branch, PO Box 18, Dammam 31411, Saudi Arabia SA Please contact Ghulam Muhammad: Tel Participant 3 Participant 4 Date December 8, 2015 Venue Four Seasons Arab National Bank, Tahlia Branch, Riyadh SA Please contact Syed Amer: Tel Details Company Address Jeddah Date December 9, 2015 Venue Park Hyatt Arab National Bank, Hay Al Salama Branch, Jeddah SA Please contact Khurram Ilyas: Tel ext 393 Tel Cheque/Draft no Signature Fax Check if payment made by cash For additional participants, please attach a separate sheet of paper to this form, with the above participant details. Date Saudi Arabia income tax and zakat update Refreshing perspectives 4

5 Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence. Deloitte's professionals are unified by a collaborative culture that fosters integrity, outstanding value to markets and clients, commitment to each other, and strength from cultural diversity. They enjoy an environment of continuous learning, challenging experiences, and enriching career opportunities. Deloitte's professionals are dedicated to strengthening corporate responsibility, building public trust, and making a positive impact in their communities. About Deloitte & Touche (M.E.) Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence since Deloitte is among the region s leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with around 3,000 partners, directors and staff. It is a Tier 1 Tax advisor in the GCC region since 2010 (according to the International Tax Review World Tax Rankings). It has received numerous awards in the last few years which include Best Employer in the Middle East, best consulting firm, and the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW). About, one of Saudi Arabia's leading professional services firms, is a member firm of Deloitte Touche Tohmatsu Limited (DTTL). With uninterrupted presence in the Kingdom since 1950, it has offices in Riyadh, Jeddah and Al-Khobar and offers audit, tax, zakat, consulting, enterprise risk services and financial advisory services to leading Saudi public and private organizations and international companies. Deloitte & Touche (M.E.). All rights reserved.

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