GAZT had concluded the first session of Zakat and Tax Conference, which was held at the Ritz Carlton Hotel in Riyadh with the participation of prominent figures from international organizations, business, government and academia.
Participants discussed the challenges and opportunities arising from the new tax policies in light of the rapid changes in the business environment. They also discussed the topics of Zakat and how it is calculated and its relationship to corporate income tax and accounting standards.
The conference also addressed the topics and developments of the G20 tax requirements and reviewed the successful experiences of implementing VAT and selective goods tax in the GCC countries and the next steps to raise the level of services provided to taxpayers based on international best practices.
The discussion also covered tax challenges in the transition to the digital economy, which were discussed in three sessions as the participants discussed the proposals for a radical change in the current international tax system, in light of the ongoing global debate.
Experts and specialists discussed the potential impact of moving forward on the first two pillars of the solution currently proposed, including the impact on revenues and investment.
The number of attendees at the conference over two days exceeded more than 3500 people, who were present in the sessions, the exhibition and specialized workshops. And more than 10,000 people specialists and interested in the topics raised in the conference had attended the discussions via live broadcast through several digital channels.
At the end of the conference, His Excellency the Governor of GAZT, Eng. Suhail bin Mohammed Abanami, delivered a speech in which he thanked all moderators, speakers, participants and all those who contributed to the preparation of this conference and government entites.