Sahid Daud

Biography

Sahid has over 10 years of experience advising clients on international tax matters. Prior to joining Al Tamimi, Sahid worked for a Big 4 in the United Kingdom.

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Recent Experience

• Advised the KSA Sovereign Wealth Fund on various tax matters including PE risk assessment / management and holding company structures.
• Supported a multinational video game investment, development, publishing and esports company based in the Middle East on the qualification of the participation exemption.
• 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 of a Jersey subsidiary into the US, ahead of the introduction of BEPS Pillar 2.
• Assisted an insurance provider to rationalize extensive intra group loans with a view to eliminating certain non-active / dormant entities, including the preparation of step plans and balance trackers.
• Worked with an automotive service group to advise on anti-hybrid and mismatch implications for disregarded entities and loss restrictions following the acquisition of a target group.
• Restructured intragroup financing for a global veterinary pharmaceuticals group in response to updates made to transfer pricing legislation.
• 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.
• Advised a multinational group on its financing arrangements in response to transfer pricing rules being introduced in a principal financing territory.