General Secretariat of Zakat, Tax and Customs Committees (GSTC) has achieved Maturity Level 4: Integrated, a recognition offered by the Global Performance Audit Unit (GPA Unit), following a comprehensive performance management system maturity assessment. This award is a mark of GSTC’s advancement in its strategy planning and performance measurement practices.

“Our collaboration with GSTC exemplifies our ongoing commitment to supporting organizations in realizing their full potential through thorough assessments and actionable insights. GSTC’s achievement reflects their dedication to enhancing strategy planning and performance measurement practices”, said Teodora Gorski, Managing Director MENA and Head of Consulting Services at The KPI Institute.

The findings of the GPA Unit’s maturity assessment underscore GSTC’s proficient alignment of strategic and operational goals and its strategic use of key performance indicators, which contribute significantly to effective decision-making and a solid performance management framework.

The GPA Unit’s service was conducted using its proprietary Performance Management System Maturity Model Framework. This involved a detailed evaluation of internal documents to confirm GSTC’s alignment with leading industry practices. The assessment process included evidence-based, perception-based, and interview-based evaluations.

Recently, GSTC has made significant strides in enhancing its operational efficiency and transparency. Notably, by mid-2024, it has successfully issued over 125,000 decisions, with more than 13,000 of these published on GSTC’s website for public access, reflecting its commitment to timely and effective dispute resolution. Moreover, GSTC implemented an e-linking agreement with the Public Prosecution, which has streamlined its processes and enhanced collaboration between agencies.

About GSTC

The General Secretariat of Zakat, Tax and Customs Committees (GSTC) is an independent entity dedicated to delivering comprehensive legal, technical, accounting, and administrative support to the Zakat, Tax, and Customs Committees. It plays a vital role in facilitating the efficient performance of the Committees’ responsibilities, ensuring compliance with regulations, and promoting transparency and accountability. GSTC is dedicated to fostering a transparent and efficient system that supports the Kingdom’s Vision 2030 objectives by promoting economic growth and ensuring effective enforcement of justice through a comprehensive series of development and operational projects.

As a pivotal entity in Saudi Arabia’s economic landscape, GSTC collaborates with various stakeholders to streamline processes, resolve disputes, and implement best practices in zakat, tax, and customs administration. By leveraging advanced technologies and innovative solutions, GSTC aims to enhance the efficiency and effectiveness of its operations, ensuring that all stakeholders benefit from a fair and equitable system. Since its inception, GSTC has played a crucial role in modernizing the regulatory framework and advancing a business-friendly environment.

For more information, visit the website at www.gstc.gov.sa.

About The KPI Institute and the GPA Unit

The KPI Institute (TKI) is a worldwide leader in performance management and KPIs training and certification. It operates research programs in 12 practice domains, disseminates industry insights through publications and knowledge platforms, and provides support in deploying those insights through training and advisory services.

The Global Performance Audit Unit (GPA Unit) is the strategy and performance audit division of The KPI Institute. Its purpose is to provide integrated strategy and performance assessment solutions through rigorous research, education and analysis.

Based on over 20 years of experience and a combination of academic and practitioner research in the field of strategy and performance, GPA Unit has developed a unique set of frameworks for assessing the maturity level of organizational performance management systems.

The concept and services of the GPA Unit are available worldwide, as it is supported by a dedicated online platform and a global network of collaborators, www.gpaunit.org

Contact details

For more information, please contact:

Adrian Brudan: General Manager EMEA, TKI

[email protected] | Contact Number: +40 721 233 084

Global Performance Audit Unit (GPA Unit), the strategy and performance audit division of The KPI Institute, is proud to announce that the Public Investment Fund (PIF) has successfully achieved the highest level of accreditation: Level 5: Optimized. This follows a comprehensive assessment of PIF’s strategy and performance management system.

“This prestigious recognition highlights PIF’s commitment to excellence in the field of strategy, performance measurement, and performance improvement, complementing and reinforcing PIF mission to support investment opportunities and drive economic transformation in Saudi Arabia. GPA Unit and The KPI Institute remain committed to unlocking organizational potential and empowering entities through rigorous research, expert insights, and innovative capabilities,” said Adrian Brudan, GM of GPA Unit and VP of The KPI Institute.

The accreditation acknowledges PIF’s exceptional performance in:

• Strategy Planning: Demonstrating a robust and coherent strategic framework that aligns organizational goals with operational execution.
• Performance Measurement: Implementing precise and comprehensive Key Performance Indicators that drive informed decision-making and accountability.
• Performance Improvement: Continuously enhancing processes and practices to achieve superior outcomes and foster a culture of excellence.

GPA Unit conducted the assessments using a comprehensive methodology based on its PMS Maturity Model framework. It involved detailed analysis on over 300 items that reflect industry best practices, designed to gauge the complexity of organizational capabilities in the strategy and performance management field.

PIF is a global investment powerhouse and the world’s most impactful investor, enabling the creation of new sectors and opportunities that will drive the economic development, diversification and transformation of Saudi Arabia and shape the future for the global economy. Actively investing over the long term to maximize sustainable returns, PIF has been the investment partner of choice for global opportunities. PIF’s stability has been recognized by international credit ratings agencies: PIF is rated A1 by Moody’s with a positive outlook and A+ by Fitch with a stable outlook.

PIF’s partnership with GPA Unit is part of PIF’s work in exploring new ways and new perspectives to allow it to carry out its mandate better. GPA Unit’s work assists PIF to allow analysis of where PIF can grow in its performance management practices.

The accomplishment is a testament to PIF’s promising strategy and robust performance management system, as well as the well-established practices that drive PIF’s success and its position as one of the largest and most impactful sovereign wealth funds. The acknowledgment complements and reinforces the recent recognition of PIF as the single most valuable brand among the world’s sovereign wealth funds.

The achievement was formally recognized during an award ceremony that took place in Riyadh on June 6, 2024. The event was hosted by Saad Alkroud, PIF Chief of Staff and General Secretary of the Board of Directors.

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About PIF

PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment.

And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future.

Since 2017, PIF has established 94 companies and injects at least SAR 150 billion into the local economy each year. Through strategic investments and partnerships across the Saudi public and private sector, PIF is driving the transition to a more sustainable economy, and laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia. 

For more information, visit the website at www.pif.gov.sa

About The KPI Institute and the GPA Unit

The KPI Institute (TKI) is a worldwide leader in performance management and KPIs training and certification. It operates research programs in 12 practice domains, disseminates industry insights through publications and knowledge platforms, and provides support in deploying those insights through training and advisory services.

The Global Performance Audit Unit (GPA Unit) is the strategy and performance audit division of The KPI Institute. Its purpose is to provide integrated strategy and performance assessment solutions through rigorous research, education and analysis.

Based on over 20 years of experience and a combination of academic and practitioner research in the field of strategy and performance, GPA Unit has developed a unique set of frameworks for assessing the maturity level of organizational performance management systems.

The concept and services of the GPA Unit are available worldwide, as it is supported by a dedicated online platform and a global network of collaborators, www.gpaunit.org

Contact details

For more information, please contact:

Adrian Brudan: General Manager EMEA, TKI

[email protected] | Contact Number: +40 721 233 084