Resource driven wealth and economic growth has attracted investors from across the world to seek out new opportunities in the Middle East
The Middle East has been recognised by global banks as a long-term growth market.
In many countries in the Middle East region, tax enforcement and reform are emerging as key components in the drive to create vibrant and stable economies. The Middle East has been recognised by global banks as a long-term growth market with prosperity in the region driven by economic expansion and high oil prices. The resource driven wealth and economic growth has attracted investors from across the world to seek out new opportunities in the region. It has also allowed Middle Eastern based investors to expand their interests by growing their investments in the global market.
The region has been very active in attracting foreign investment. For example, many Middle Eastern countries are working on growing their networks of tax treaties to help domestic businesses expand internationally and to attract foreign investment to fuel their economic growth. Tax treaties entered across the region contain a variety of distinct features, some of which are unique to the region. KPMG Ireland are centrally involved in advising the Irish Government on the mutually beneficial aspects of these treaties for both Ireland and countries in the Middle East (e.g. the Double Tax Treaty agreed with Qatar in June 2012).
Given the scale of recent economic growth in Middle East, it has developed into a very important region for expanding Irish companies and multinational companies. There is considerable scope to use Ireland as a platform for investing into the Middle East.
The attractions of using Ireland include:
Similarly, Ireland is an ideal location for establishing activities outside of the Middle East. In addition to the above, the attraction of using Ireland to expand activities outside of the Middle East include:
KPMG range of services
KPMG Ireland has a team focused on investment into and out of the Middle East. Together with our KPMG colleagues in the Middle East, we provide our clients with complete tax advice on the issues that arise. Our tax services include advising on: