Ministry Of Finance And OECD Collaborate On International Taxation Forum In Dubai

The Ministry of Finance (MoF) and the Organisation for Economic Cooperation and Development (OECD) are hosting a forum on international taxation in Dubai. This event, running from 12th to 14th November, gathers officials, economic experts, and business representatives from 12 countries. The forum aims to discuss crucial topics related to international taxation.

Younis Haji AlKhoori, Under-Secretary of the Ministry of Finance, highlighted the importance of this forum. He stated, "This forum, organised in collaboration with the OECD, represents a crucial opportunity to share expertise, strengthen regional and international cooperation, and contribute to the development of transparent and flexible tax systems that are well-equipped to meet global economic and technological challenges."

The event is part of a Memorandum of Understanding between MoF and OECD. It aims to develop tax treaty networks in the MENA region. The initiative seeks to address economic integration needs and promote understanding of international tax rules. This includes transfer pricing provisions that affect businesses and tax authorities across multiple jurisdictions.

Younis Haji AlKhoori also noted that the forum underscores the UAE's commitment to aligning its tax practices with international standards. "This commitment enhances the UAE's status as a leading global business hub and supports sustainable economic growth in an era of rapid digital transformation," he added.

The forum featured discussions on implementing tax treaties and OECD Pillar Two's subject-to-tax rule. Transfer pricing provisions were another focus area, covering documentation requirements, risk assessment, and new developments like Amount A and Amount B under OECD Pillar One.

Participants also engaged in regional dialogue on tax convention policies. They explored updates on BEPS 2.0 solutions led by the OECD and G20's Inclusive Framework. These efforts aim to tackle tax challenges arising from the digital economy.

Expert-Led Sessions

The sessions were moderated by esteemed experts from OECD and HM Revenue and Customs (HMRC). Yves Van Brussel from OECD led discussions on foundational principles of tax treaties. Kenjiroh Tomita guided talks on transfer pricing evolution and documentation significance for global economies.

Debra Evans from HMRC presented strategies for transfer pricing risk assessment. Her session included documentation strategies with further discussions scheduled for tomorrow on key topics introduced during the forum.

Commitment to Global Standards

The Ministry of Finance shared insights into its practical experience with implementing tax treaties. They highlighted recent advancements in this area during the forum sessions.

This gathering serves as an ideal platform for exchanging insights among participants while enhancing both regional and international tax cooperation efforts.

With inputs from WAM