KPMG Lower Gulf

The Sultanate of Oman has issued Royal Decree No. 70/2024, implementing a 15% Top-Up Tax for Multinational Groups effective from 01 January 2025 by way of Income Inclusion Rule in line with OECD's #PillarTwo framework to combat #BEPS. While the Executive Regulations detailing implementation are still awaited, Multinational Groups need to start evaluating the impact of Top-Up Tax on their businesses in and outside Oman. Read our insight – https://lnkd.in/dWSPuuR9 #omantax Joe Pacelli Aabha Lekhak Raman Ohri Sumit Bansal Lokesh Bhora Lieke Mutsaers-Trommelen Anand Krishnan

We are delighted to present the third edition of ‘Industry Multiples in the GCC’, reflecting the region’s cautious optimism amid global uncertainties. From steady banking fundamentals to growth in education, healthcare, and hospitality, this edition highlights key trends shaping the GCC's industries. Read more - https://lnkd.in/dBE8iwxa #valuations Anshul A Gupta Rajiv Maloo Nigam Gandhi Wissam Fakhoury Kushagra Ladha Raj Kumar Rasappan Nick Lloyd Anurag Joshi

At KPMG Lower Gulf's recent Pharma and Lifesciences Compliance Breakfast in Dubai, leaders from global companies discussed challenges in determining Fair Market Value (FMV) for distributor compensation and their other value-added services. The session concluded with a forward-looking outlook for the sector, which highlighted a shift toward digital healthcare and personalized medicine, emphasizing partnerships with AI and technology firms to drive innovation. In 2024, we hosted impactful discussions on FMV, AI, and channel stuffing, with the next session set for March 2025. Learn how KPMG supports tailored solutions for crisis and proactive reviews - https://lnkd.in/dWz5mVS2 #forensics Nicholas Cameron Alexander Tuscano Dr. Suhasini Molkuvan Monika Choudhary Dina Mashaal

The 2025 Oman State Budget suggests a promising outlook for the country. Aligned with Oman Vision 2040 and the Tenth Five-Year Plan, the budget aims to spur economic growth, build financial stability, and improve social welfare. Highlights include a determined focus on economic diversification, a stronger push for digital transformation, strategic investments in social protection and development, and fiscal measures to balance oil price volatility and global risks. Read the full report here: https://lnkd.in/dECqQujt Emilio Pera Aabha Lekhak Aqeel AlLawati Kenneth Macfarlane Mobeen Chaudhri Harris Matin Anuradha Venkatkrishnan Irshard Marikar Raman Ohri Sumit Bansal Waseem Khan- FCA, CPFA(UK), Certified Fraud Examiner (CFE) Usman Sheikh, CPA, ACCA Palak Doshi Lokesh Bhora

Oman has ratified Double Taxation Avoidance Agreements (DTAAs) with Luxembourg and Estonia, aligning with global tax reform standards. These agreements cover a range of income types and offer reduced withholding tax rates on royalties, interest, and dividends. Businesses engaging in cross-border transactions between these nations should evaluate the potential tax implications and benefits. Learn how these DTAAs can impact your business and optimize tax outcomes: https://lnkd.in/dF6dAUja #omantax Joe Pacelli Aabha Lekhak Raman Ohri Sumit Bansal Hussein Al Lawati

Celebrating a new year filled with fresh beginnings, shared successes, and endless possibilities! Wishing everyone a joyful and prosperous 2025! نحتفل بعام جديد نأمل أن يكون مليئاً بالنجاحات والإنجازات والفرص الجديدة! نتمنى للجميع عامًا سعيدًا ومزدهرًا في 2025!

Oman and Ireland have taken a significant step in strengthening economic ties with the signing and ratification of the Double Taxation Avoidance Agreement (DTAA). Once in force, the DTAA will streamline tax compliance and benefit businesses by reducing withholding tax rates on royalties, interest, and dividends. Explore how this agreement can impact your cross-border transactions and how KPMG’s expert team can assist you in navigating its provisions  https://lnkd.in/d2GQPJwB Joe Pacelli Aabha Lekhak Raman Ohri Sumit Bansal Hussein Al Lawati Palak Doshi

UAE tech leaders are prioritizing empathetic communication (20% vs. 11% globally), tech literacy (14% vs. 11%), and maintaining change momentum (14% vs. 11%) to build resilient, innovative ecosystems. With 76% excelling in clear and consistent tech investment processes and 73% prioritizing early cybersecurity involvement, they are driving strategic alignment and governance. Notably, 90% have seen profitability increases from data and analytics investments, reinforcing the UAE's commitment to sustained growth and innovation. Explore the full report https://lnkd.in/d_SJd7iB Fady Kassatly Tim Wood Mohamad Majid Gonçalo Traquina Dimitrios Petropoulos Matin Jouzdani Robert PTASZYNSKI Fadi Al-Sheikh Trevor Niblock Chi Ngwube Arundeep Raina Rohan Savio

We were honored to have participated as Knowledge Partner at the 2nd Government CX Summit in Abu Dhabi alongside our alliance, ServiceNow. A big thank you to everyone who joined KPMG’s keynote session, where Gonçalo Traquina explored why exceptional Government CX is no longer optional but essential for impactful citizen engagement. By leveraging KPMG’s Six Pillars of Customer Experience Excellence and showcasing a transformative case study powered by ServiceNow, we highlighted how technology and AI are reshaping public services for the future. Together, we continue to shape consistent and integrated citizen experiences. #kpmgproud Mohamad Majid

Effective compliance and oversight are vital to navigating the complexities of mergers and acquisitions. Our article explores how a robust risk-based framework can safeguard organizations’ legal, financial, and reputational integrity during the process, while promoting a culture of accountability. Read more - https://lnkd.in/d3q2FFxC #mergers #acquisitions Nicholas Cameron Harris Matin James Crudgington Ross Barlow Omar Khilo, MBA