Comments on G7’s corporate tax plan & the GCC in Arab News, Jun 12 2021

Dr. Nasser Saidi’s comments appeared in an Arab News article titled “Should GCC states be afraid of the G7 corporate tax plan?” on 12th June 2021.

The comments are posted below.

Economic consultant Nasser Saidi said the implementation phase of the proposals would make for hard negotiations. “It will have to be accepted by the G20, laying bare the differences between the tax-raising needs of the developed G7 countries facing unprecedented budget deficits (in part due to cover stimulus spending and lower revenues) and developing countries that want low corporate tax rates to attract investment, technology and know-how,” Saidi told Arab News.

“Countries that have relied on zero taxation in their FZs and SEZs to attract capital and diversify their economies will stand accused of facilitating tax avoidance and growing demands for exchange of information for tax purposes and higher corporate governance standards, transparency and disclosure,” said Saidi.

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