Global accounting and consulting firm Deloitte has set up a programme to improve the digital skills of young Saudis and help them learn about the latest trends in e-commerce as part of the kingdom's push to develop its non-oil sector and create jobs for nationals.
The initiative will help young Saudi citizens prepare for the digital revolution and the future of work by creating a springboard for participants that will improve their employment prospects in the e-commerce field, Deloitte said on Sunday.
Consumers in Saudi Arabia account for the lion's share of online purchases in the Gulf region and the shift to e-commerce is mainly driven by the kingdom’s young population, rising broadband and smartphone penetration rates and the government's growing focus on the sector, said Rashid Bashir, head of government and public services at Deloitte Middle East.
"The kingdom is in a strong position to capitalise on these trends to increase youth employment opportunities, spark a local start-up and entrepreneurship mindset in the field and attract global and regional players to operate in the kingdom, all of which are hinged on the supply of skilled Saudi youths [who make up] the necessary workforce to enable such transformation," he said.
The Covid-19 pandemic has hastened the consumer shift to online shopping in the Middle East, leading to a boom in the region's e-commerce sector.
E-commerce sales in the Mena region are set to triple to $28.5bn next year, from $8.3bn in 2017, according to research by Bain & Company and Google.
Saudi Arabia, a major e-commerce market in the Gulf, is looking to upskill its workforce as part of a broader plan to reduce its economic reliance on oil, create jobs, attract talent, encourage entrepreneurship and boost investment.
Deloitte's programme is being conducted at the Deloitte Digital Centre in Riyadh, which provides participants with digitisation tools and hands-on, real-life experiences on the accounting consultancy's method of work.
Deloitte partnered with global cloud-provider Amazon Web Services and German software maker SAP to develop the programme's curriculum, which is being delivered in a hybrid format, in which training sessions focused on science, technology, engineering and maths, as well as digital, analytical and entrepreneurial skills.
The sessions addressed the most topical e-commerce issues in the current business landscape, including data analytics and marketing, cloud storage and software development, according to Deloitte.
Programme participants were chosen by Deloitte, AWS and SAP using specific criteria. A pool of more than 7,000 applications was whittled down and the top 25 applicants were chosen for an initial pilot version of the programme.
"The trainees benefited from learning easy-to-use AWS cloud solutions that can support their e-commerce capabilities," said Omar Saleh, public sector lead at AWS Saudi Arabia.
"The participants were given hands-on workshops covering customer engagement services, as well as advanced technology such as machine learning and data analytics to enable them to forecast, analyse marketing campaigns and build personalised shopping experiences."
The programme to develop in-demand skills in Saudi Arabia equipped participants with the skills needed to accelerate a digital and e-commerce transformation in the kingdom, said Ahmed Al-Faifi, senior vice president and managing director of SAP Middle East North.
It also delivered technical training and engaged youths through workshops on innovation.
PRIMERA LIGA FIXTURES
All times UAE ( 4 GMT)
Saturday
Atletico Madrid v Sevilla (3pm)
Alaves v Real Madrid (6.15pm)
Malaga v Athletic Bilbao (8.30pm)
Girona v Barcelona (10.45pm)
Sunday
Espanyol v Deportivo la Coruna (2pm)
Getafe v Villarreal (6.15pm)
Eibar v Celta Vigo (8.30pm)
Las Palmas v Leganes (8.30pm)
Real Sociedad v Valencia (10.45pm)
Monday
Real Betis v Levante (11.pm)
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
First Person
Richard Flanagan
Chatto & Windus
The stats: 2017 Jaguar XJ
Price, base / as tested Dh326,700 / Dh342,700
Engine 3.0L V6
Transmission Eight-speed automatic
Power 340hp @ 6,000pm
Torque 450Nm @ 3,500rpm
Fuel economy, combined 9.1L / 100km
