Sur Moody in his inauguration speech at the Fifth Tax Forum (Tax is important to fund the common societal services)

Sur Mark Moody-Stuart, honorary Co-Chairman of ITIC delivered a speech in Fifth Meeting Of The Middle East/North Africa Tax Forum and thanked Ibrahim Al Assaf, Minister of Finance, HE Ibrahim Almofleh, head of the Zakat and Income Tax, for their generous sponsorship of this Forum. 
He stressed, in his speech, on the importance of taxes in funding the common societal services. 
Sur Mark Moody-Stuart thinks that MENA region is at a critical point in terms of national budgets. 
He added that "In the Gulf area there are determined efforts to encourage the growth of the non-hydrocarbon economy. At the same time the oil related income has been affected by the recent down turn in oil prices which means that in many countries it will be necessary to draw on reserves to cover budget deficits". 
He also said that "In all countries of the region, as in so many parts of the world, there is an imperative for employment growth, particularly for a growing numbers of young and increasingly well educated people and the need to widen and strengthen Zakat Base and increase the attraction for investment ". 
He added that "this forum provide unparalleled opportunity for governments and businesses to work together and exchange experiences and studying all results. The forum also is a great opportunity to search for the tools necessary to encourage local and foreign investment such as investment loans and tax exemptions".