KPMG in Bahrain Discusses the Kingdom’s Corporate Regulatory Environment
With the continuous regulatory developments in the Kingdom of Bahrain and beyond, KPMG in Bahrain recently hosted a seminar session to educate businesses and business owners on the latest regulatory obligations. Around 50 delegates from the local businesses attended the seminar to gain clarity on the complex regulatory and tax compliance requirements relevant to their ongoing business activities, start-up activities or when winding down operations.
Philippe Norré, Partner and Head of Tax and Corporate Services at KPMG in Bahrain, delivered the introductory keynote messages at the event and discussed with the audience the importance of being in compliance with all legal obligations when conducting business. “Our firm itself has a duty to meet all obligations and we have been assisting our clients to avoid running into sanctions and penalties for five decades. Bahrain provides a very good framework for entrepreneurs and business growth but it is critical to fully navigate within the legal framework to avoid severe penalties and, as already occurred in several cases, the revocation of the approval to conduct business. The regulatory requirements are also there to protect economic operators and the new Bankruptcy Law will allow opportunities for business continuation in the current more challenging economic environment” He said in his presentation.
The Corporate and Paralegal services team is accessible at KPMG in Bahrain’s branch in Bahrain Financial Habour, located nearby the Bahrain Investment Center (BIC) in the Harbour Gate Building. For more information, please visit our website www.home.kpmg/bh.
KPMG in Bahrain is a member firm of KPMG International. The firm was established in 1968 as the first national accounting and auditing firm, and it has grown to be one of the largest professional services firms in the country. The firm provides Audit, Tax and Advisory services to a wide array of clients operating in different sectors, utilizing the in-depth technical and industry experience of its professional staff.
Through helping other organizations mitigate risks and grasp opportunities, we can drive positive, sustainable change for clients, our people and society at large.
KPMG member firms operate in 153 countries, collectively employing more than 207,000 people, serving the needs of business, governments, public-sector agencies, not-for-profits and through member firms' audit and assurance practices, the capital markets. KPMG is committed to quality and service excellence in all that we do, bringing our best to clients and earning the public's trust through our actions and behaviours both professionally and personally.