Basmah Almuflih

Biography

Basmah brings over 7 years of experience advising clients on international tax matters. Before joining Al Tamimi & Company, she spent nearly seven years with EY and approximately one year with KPMG in Riyadh, focusing on international tax advisory within the Big 4 environment.

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Recent Experience

• Basmah has been primarily working on International Tax advisory engagements and projects with a focus on government entities and institutions. Her experience covers corporate tax structuring and various investment structuring for Saudi clients investing abroad and multinationals investing into KSA.
• Advising the KSA Sovereign Wealth Fund on various tax matters including PE risk assessment / management and holding company structures.
• Assisting various clients of KSA practice, including major MENA-owned food producer, family-owned businesses, and airline companies in respect of their inbound and outbound investments.
• Assisting the tax authority with respect to the formation and development of their international tax treaties department.
• Performing inbound and outbound tax structures including exit scenarios, disposal of companies, and improving overall tax structures.
• Her experience spans over several domains of corporate taxation, including tax health checks, due diligence, IPO readiness, risk assessment, restructuring, compliance and litigation. She has also worked on matters of international taxation, such as PE reviews and treaty interpretation.
• Advised a state-owned petroleum and natural gas company on group holding structures for future investments and profit repatriation.
• Advising an international drilling contractor on an outward migration ahead of the introduction of BEPS Pillar 2, including pre-exit reorganization and profit repatriation planning, future management of residence and mitigation of PE risk, deemed disposals and compliance obligations.
• Advised a group on controlled foreign company implications of a legal continuance, ahead of the introduction of BEPS Pillar 2.
• Supported a multinational group to restructure its IP ownership in response to anti-avoidance measures. This involved reviewing the group’s existing IP structure, proposing an alternative model and preparing a detailed tax report on the restructuring tax implications.
• Worked with a listed group looking to simplify its group structure by eliminating dormant entities. The project spanned over a year and involved working with several overseas teams to understand the shareholder and/or target entity tax implications, devising steps to efficiently rationalize the targets and ensuring tax liabilities are minimized.