Deloitte leads as World's Leading Transfer Pricing Advisers in latest Euromoney's Guide

16 March 2012

Whilst transfer pricing regulations have not been issued in the region to date, apart from Egypt, Deloitte Middle East's transfer pricing advisors say that tax authorities in several GCC countries have started to be receptive to taxpayers, providing transfer pricing documentation to support the arm's length nature of related party transactions. 

Accordingly, Deloitte Middle East's transfer pricing advisors have undertaken transfer pricing reviews in the majority of GCC countries and expect detailed transfer pricing regulations to be issued in the near future, as each respective Tax Authority develops their own approach and preferences in relation to transfer pricing. 

In light of its expertise in the transfer pricing field, Deloitte member firms across the globe were recognized for the sixth consecutive time, by Euromoney's 2011 Guide to the World's Leading Transfer Pricing Advisers, as having the highest number of leading transfer pricing advisers. Ninety-six Deloitte member firms' tax partners in 40 jurisdictions were included in the 2011 guide as leading transfer pricing advisers.

"These awards recognize the Deloitte network's top transfer pricing advisers, who are well- respected among clients and peers and who serve our clients across geographies," said Nauman Ahmed, partner in charge for Tax Services at Deloitte in the Middle East. "We believe this recognition also reflects Deloitte's ongoing commitment to excellence in the area of transfer pricing," he added.

Deloitte's tax advisors help clients understand, plan for, and deal with the complex and dynamic issues surrounding transfer pricing. Deloitte's comprehensive services include improving tax efficiency and defense posture, resolution of global transfer pricing controversies, and strategic documentation.

At Deloitte Middle East, transfer pricing experts have assisted global organizations working in Middle East in setting up and implementing suitable related party pricing structures and transfer pricing documentation requirements. These efforts have been carried out to meet both tax authority requirements and those imposed by other stakeholders such as local auditors and overseas affiliates.

"Our added value to clients is in helping them interpret the transfer pricing regimes and guidelines in a way which is suitable both for the client's business and in the context of the local legislation. In doing so we look to leverage from Deloitte's local and global transfer pricing expertise to ensure robust local compliance and to enhance client-side understanding of how Middle East  transfer pricing regulations impact their business," said Ali Kazimi, Deloitte Middle East's regional managing director for International Tax Services.

The Guide to the World's Leading Transfer Pricing Advisers is published biannually by Legal Media Group, a unit of Euromoney Institutional Investor, and is available at www.expertguides.com.

The process for selecting the leading transfer pricing tax advisers is extensive. More than 4,000 senior practitioners and in-house tax directors in 65 jurisdictions are sent a questionnaire requesting nominations for leading practitioners based on their work and reputation. The results are then analyzed and screened for firm, network, and alliance bias. The list of experts is then discussed and refined with advisers in legal centers worldwide.

-Ends-

About Deloitte:
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's approximately 182,000 professionals are committed to becoming the standard of excellence. Deloitte's professionals are unified by a collaborative culture that fosters integrity, outstanding value to markets and clients, commitment to each other, and strength from cultural diversity. They enjoy an environment of continuous learning, challenging experiences, and enriching career opportunities. Deloitte's professionals are dedicated to strengthening corporate responsibility, building public trust, and making a positive impact in their communities

About Deloitte & Touche (M.E.):
Deloitte & Touche (M.E.) is a member firm of Deloitte Touche Tohmatsu Limited (DTTL) and is the first Arab professional services firm established in the Middle East region with uninterrupted presence for over 85 years. Deloitte is among the region's leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with over 2,500 partners, directors and staff.  It is a Tier 1 Tax advisor in the GCC region (International Tax Review World Tax 2010, 2011 and 2012 Rankings) and was recognized as the 2010 Best Consulting Firm of the Year in the Complinet GCC Compliance Awards. In 2011, the firm received the Middle East Training & Development Excellence Award by the Institute of Chartered Accountants in England and Wales (ICAEW).

For further information, Contact:
Ceem Haidar
Title: Public Relations Regional Leader
Deloitte Middle East
Tel: 00961. 1. 748 444
Email: chaidar@deloitte.com

© Press Release 2012