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Financial Transformation of the Finance Function in KSA
Financial transformation is an important step in the economic development and maturation of any country that wishes to compete in the global market. As it stands, Saudi Arabia's financial sector is still in the process of developing its full potential. With recent government initiatives and the implementation of more robust economic policies, the Kingdom is taking steps to improve its financial stability and modernize its finance function.
In this article, we will explore why financial transformation is necessary for KSA, how businesses can prepare for it, and the potential benefits that this transformation can bring.
Zakat and Tax Home
Blog
Financial Transformation of the Finance Function in KSA
Financial transformation is an important step in the economic development and maturation of any country that wishes to compete in the global market. As it stands, Saudi Arabia's financial sector is still in the process of developing its full potential. With recent government initiatives and the implementation of more robust economic policies, the Kingdom is taking steps to improve its financial stability and modernize its finance function.
In this article, we will explore why financial transformation is necessary for KSA, how businesses can prepare for it, and the potential benefits that this transformation can bring.
Financial services Home
Blog
Evolution of the Financial Services Industry in KSA
The financial services industry is experiencing a seismic shift. Disruptive companies such as Uber and Airbnb have disrupted traditional businesses such as hotel chains and taxi firms with innovative technologies. In the same vein, financial technology (FinTech) startups are shaking up the financial services industry with innovative technologies that are changing how we bank, make payments, and invest.
Healthcare Home
GrowthiQ
Lessons on big data from the healthcare sector
The healthcare sector is still experimenting with using big data but, as Anne McGeorge the national managing partner of healthcare at Grant Thornton US shares, it already has plenty to teach us about the benefits and challenges of big data analytics.
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Aviation Insights
Preparing for the return of travel
From liquidity to debt and restructuring, we address the diverse and complex
challenges faced by airlines, leasing companies and aircraft funds in particular.
We also consider implications for employers and how financial planning for the
medium and long term will be affected.

The Government of Oman in October 2020 announced the long-anticipated Value Added Tax (VAT) Law. The Law will be effective from April 2021 and will create significant impact for businesses who operate in the country. To support businesses with their implementation, the Oman Tax Authority has released the VAT Implementing Regulations on 14 March 2021, which signifies the countdown to implementation in just under 33 days.
In this article
During a recent webinar organised by Thomson Reuters, focusing on VAT implementation across Oman, industry experts shared their insights on how to prepare effectively. Following on from the session, Tax Expert, Ganesh Nair of Grant Thornton Saudi Arabia shares an overview of the elements which Omani businesses may need to consider, following the attached lessons learnt during the implementation of VAT across Saudi Arabia.
Preparing for VAT in Oman
We share an overview of the elements which Omani businesses may need to consider, following the lessons learnt during the implementation of VAT across Saudi Arabia.