While the country has primarily been known for its vast gas reserves, Qatar’s global profile received a major boost in 2010 when it won the bid to host the 2022 FIFA World Cup. Since the announcement, the country has witnessed extensive international investment and substantial infrastructure projects, allowing the population to grow by an estimated 40% since 2010 due to an influx of foreign work
The international tax environment has been evolving rapidly in the last two years, with a number of changes affecting the GCC states. With increased budgetary requirements, sustained lower oil prices and heightened government spending requirements, the pursuit of new income sources in the region was widely anticipated. In early May 2017 the Qatar cabinet approved draft VAT and excise laws,…
Interview:Wadih AbouNasr Where do you see the most potential for the government to develop new revenue streams? WADIH ABOUNASR: When tasked with counteracting the slump in hydrocarbons prices, the government floated the potential introduction of value-added tax (VAT) and excise tax as initial moves to diversify revenue streams. However, it is evident that other measures will also be needed…
The current tax rules in Qatar are governed by Law No. 21 of 2009, which came into effect on January 1, 2010. The executive regulations – effective from July 1, 2011 – contain the detailed rules related to the administration of the tax regime. The Qatar Tax Department (QTD) also periodically issues circulars to provide guidance on the interpretation of provisions in the Qatar tax law and…
Qatar has responded strongly to the trade blockade that cut off many of the country’s supply routes for goods, ranging from construction materials to milk, and has swiftly realigned key trading routes. Meanwhile, many in the local business community are optimistic about the opportunities for in-country value creation that the blockade has afforded. Qatar’s economy has remained better insulated
This chapter contains an overview of the tax framework in which local and foreign investors operate in Qatar, including a summary of the general rules governing nationals and non-residents, the system requirements for locals and foreign entities, and an analysis of value-added tax, which is to be introduced at a standard rate. This chapter contains a viewpoint from Wadih AbouNasr, Country Senior Partner,…
The Middle East has traditionally been an attractive region from a tax perspective. According to the PwC and World Bank “Paying Taxes 2016” study, Qatar is ranked first in the world in terms of ease of paying taxes. With the pronounced decline in oil prices impacting both the public and private sectors, new reforms, including changes to taxation, are being considered by regional governments. Greater…
This chapter contains an overview of the tax framework in which local and foreign investors operate in Qatar, including a rundown of the tax rules that apply to businesses and how moves to widen the tax base are likely to affect future policy. This chapter contains a viewpoint from Wadih AbouNasr, Country Senior Partner, PwC Qatar.…
The current tax rules in Qatar are governed by Law No. 21 of 2009, which came into force with effect from January 1, 2010. The executive regulations, effective from July 1, 2011, contain the detailed rules related to the administration of the tax regime. The Qatar Tax Department (QTD) also issues circulars from time to time to provide guidance on the interpretation of provisions in the Qatar tax law…
A new tax law was introduced in Qatar with effect from January 1, 2010. Since then, we have seen significant changes by the Qatar Tax Department (QTD) in its interpretation of specific provisions of the law and developments in the way it is implemented. There has been some official written guidance on this, in particular the issuance of circulars, but trends have also been observed through our practical…
