As part of its commitment to build a network of qualified and effective tax expertise and its quest to consolidate cooperation frameworks with various global and regional organisations, the Ministry of Finance (MoF) is organising a three-day joint seminar with the Organisation for Economic Cooperation and Development (OECD) on transfer pricing and tax treaties from 6-8 December, 2021. The seminar aims to discuss transfer pricing and tax treaties in addition to their latest developments, and a number of solutions regarding tax challenges arising from economic digitization, as well as developments on the subject of international taxes.H.E. Younis Haji Al Khoori, Undersecretary of MoF and Pascal Saint-Amans, Director of the Centre for Tax Policy and Administration at the OECD, inaugurated today the seminar where more than 100 experts from the MENA region in addition to representatives of relevant federal and local authorities participated.H.E. Al Khoori welcomed the participants and expressed his profound appreciation for the valuable work done by the members of the IF and the OECD Secretariat in delivering solutions to the direct tax challenges arising from digitalization of the economy through the two-pillar solution to ensure tax certainty. H.E. pointed that the integration of national economies and markets have increased rapidly while putting a strain on the international tax rules and noted that although digital transformation spurs innovation and generates efficiencies that extend to services, the speed of these changes introduced challenges in many areas including tax. H.E. therefore stressed that reforming the international tax system to address tax challenges arising from digitalization is a top priority of the BEPS project including supporting businesses in the digital age.H.E. explained that the two Pillar solution will address tax challenges arising from digitalization and promote knowledge solving to set good practices, inclusion and shed light on the key role of international cooperation to make use of growth opportunities of digitalization.H.E. Al Khoori said: “Since 2006 the UAE and the OECD have jointly organized 14 annual seminars to facilitate the development of tax treaty networks in MENA countries with the aim of meeting their needs to increase their integrated economies. These seminars have brought together officials from the MENA region and participants from other countries to share their expertise and experience with the OECD and the UAE, reflecting the long cooperation and strategic partnership between the UAE and the OECD."H.E. thanked Mr. Pascal Saint Amans for addressing the seminar and looks forward to further cooperation between the UAE and the OECD in all areas of mutual interest.The UAE is developing a comprehensive network of tax treaties to enhance its position on the global competitiveness map as a leading global centre in the commercial and financial sectors This would increase the effectiveness of the country in the areas of exchanging tax information and providing comprehensive responses to its tax treaty partners.The seminar will be taking place in-person in Dubai with limited seating to maintain physical distance, however sessions will also be streamed virtually to accommodate for a large number of participants.
