The world of tax is changing at a rapid pace. With an increased focus on global cooperation and transparency in tax matters, a new era has indeed dawned.

A more connected, transparent and coherent global tax system will undoubtedly trigger several far reaching changes all over the world. Countries are reforming their respective tax regimes, while simultaneously seeking to modify their bilateral treaty network through a revolutionary multilateral treaty. In other words, a whole new approach to tax is being laid out all over the world.

In the midst of such radical change, countries in the Middle East, which have traditionally abstained from levying taxes are reconsidering their approach to fiscal policy. With the current trends in global oil prices, there is a need to identify new sources of revenue to fund public services and social spending.

With taxes in the Middle East all set to become a reality, there is a need for businesses to reorient themselves to this changed environment. We, at W T S Dhruva, seek to work closely with businesses as they embark on this uncharted journey.