Tax Authority Convenes with Leading Auditing Firms to Discuss Tax Developments

The Tax Authority held its inaugural meeting with leading auditing and accounting firms to discuss significant changes in the tax landscape arising from updates to international accounting standards and tax legislation.

The meeting was attended by His Excellency, the Head of the Authority, and a number of officials to listen to the challenges faced by taxpayers and explore ways to address these challenges to enable taxpayers to comply with tax laws. Additionally, the IFRS 16 standard was selected as a primary focus for this meeting, reflecting the Authority's commitment to ensuring the application of international standards to enhance transparency and credibility in the financial statements of taxable companies.

Notably, the Authority intends to organize such dialogue sessions periodically to strengthen cooperation among tax advisors and to exchange expertise and knowledge in the tax field.