KPMG, a leading accounting and consulting firm in the Kingdom, has identified clear cases where VAT-registered businesses in the Saudi market could make a mistake in their VAT filing due to lack of accuracy of invoices or clarity of records and the gaps in tax data. However, the impact of this type of error can be reduced by ensuring the tax and accounting controls and processes are set up to identify and correct mistakes.
Nicholas Soverall, head of VAT at KPMG in Saudi Arabia, said that high fines would encourage taxpayers to improve their accounting systems to manage value-added tax, noting that the businesses may also benefit from the need to transform their systems and processes for VAT.
This could lead to a gradual improvement in processes by targeting all aspects of the business. He saw this as a positive trend for companies.
In a series of three workshops organized by KPMG over the last week in Riyadh, Jeddah and Alkhobar, titled “VAT — A Clearer Perspective,” he stressed the importance of the taxpayer being transparent, enhancing the disclosure culture, and working hard to manage its tax risk — thereby enabling businesses and institutions to maintain profitability and future investment.
The workshops, which were attended by accountants and financial experts from several sectors, presented many views on value-added tax and the readiness of the tax administrators to meet the challenges of managing the new tax including processing the large volume of returns, responding to the numerous tax queries, and looking after the taxpayers’ accounts.
The head of VAT at KPMG in Saudi Arabia highlighted the key features of the application of value-added tax, using several practical examples to encourage taxpayers to analyze their transactions in sufficient detail to ensure that VAT is applied correctly and, where there is doubt, seek support and clarification.
Soverall complimented the efforts made by the General Authority of Zakat and Tax in the Kingdom to prepare taxpayers and consumers for the introduction of the tax. However, this was only the beginning and there was a long way to go before all the tax, accounting and systems issues that have arisen, can be resolved.
KPMG reduces the impact of tax errors for Saudi companies
KPMG reduces the impact of tax errors for Saudi companies
PwC Middle East and Sirar by stc’s CISO500 program advances cyber leadership
The fifth edition of the CISO500 program ran from Feb. 8-12. Delivered in partnership between PwC Middle East and Sirar by stc, the program featured five intensive days of rich discussions and hands-on practical experiences, aimed at strengthening leadership capabilities in cybersecurity and keeping pace with rapid technological transformation.
The program is designed to develop the capabilities of executive cybersecurity leaders and enhance their strategic role in supporting organizations’ digital transformation. It equips participants to address contemporary challenges in the cyber landscape and expand their influence within decision-making ecosystems.
Yasser Al-Swailem, CEO of Sirar by stc, said that the program represents an important step toward strengthening the readiness of cyber leaders in the region. He noted that the CISO500 program is a fundamental pillar in the journey toward building a secure and trusted Saudi cyberspace aligned with national ambitions. He added that investing in national cybersecurity leadership is no longer optional but a strategic necessity for ensuring sustainable digital development. The program reflects a commitment to empowering national talent to lead the digital security landscape according to the highest global standards.
He further emphasized that such initiatives contribute to strengthening digital security ecosystems and enabling organizations to confidently and sustainably address future challenges.
Samer Omar, cybersecurity and digital trust leader at PwC Middle East, added: “CISO500 is a long-term investment in Saudi leadership. Over the past year, we’ve seen how bringing together senior Saudi cybersecurity professionals in a structured executive environment accelerates capability, builds confidence and deepens collaboration. As the program enters its second year, our focus remains on equipping Saudi CISOs with the strategic perspective and technical depth required to secure the Kingdom’s digital ambitions.”
The program addressed a range of advanced topics, including common cyber transformation pitfalls, mechanisms for securing enterprise digital transformation, and cybersecurity budgeting and financial governance. These topics enhanced leaders’ ability to translate cyber risks and security investments into financial indicators that support executive decision-making.
It also covered the latest technological developments, particularly artificial intelligence, emerging technologies, quantum computing, and the protection of critical and operational infrastructure. Emphasis was placed on the importance of security governance for AI technologies and strengthening enterprise-wide risk management perspectives associated with them.
The program adopted an interactive learning methodology combining strategic discussions, collaborative work, and creative practical exercises, contributing to a deeper understanding of concepts and enabling their translation into applicable organizational practices.
Abdullah Al-Asmari, global cybersecurity director at the Saudi Research and Media Group and one of the program participants, said that the experience added significant strategic and practical value: “The program provided a rich experience that strengthened the leadership perspective of cybersecurity, particularly in linking technical practices with strategic and financial dimensions within the organization. It also offered valuable space for exchanging expertise on emerging technologies such as AI and quantum computing, and the challenges of securing critical infrastructure. This experience enhances cyber leaders’ ability to adopt a more influential role in supporting digital transformation and enabling decision-making based on a comprehensive understanding of risk and value.”
He added that the program facilitated the exchange of insights on emerging challenges and strengthened the ability to align cybersecurity with institutional objectives and executive decision requirements.
Participants said that the program constituted a valuable professional and knowledge-driven experience that enhanced the readiness of cyber leaders to keep pace with rapid digital transformation, reinforcing cybersecurity’s role as a strategic enabler that supports innovation while preserving business trust, reliability, and sustainability.
