Accountancy & Tax
From The Report: Qatar 2015
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In conjunction with PwC, this chapter contains an overview of the tax framework in which local and foreign investors operate in Qatar, including a look at the Customs duty exemptions for some firms and an outline of the incentives available to those businesses that are diversifying the economy.

This chapter also includes a viewpoint from Stephen Anderson, Managing Partner, PwC Qatar.

Articles from this Chapter

Overview

Making the right choice: Recent developments provide more options for foreign investors
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For years, there have been three tax regimes in Qatar in which foreign investors could operate: the state of Qatar, the Qatar Financial Centre (QFC), and the Qatar Science and Technology Park (QSTP). Historically, most foreign investors have set up in the state, but recent changes are encouraging investors to reconsider. STATE OF QATAR: The main legal forms available to foreign investors operating in the state have been a contract-specific branch or a limited liability company (LLC). A branch has generally only been available to foreign investors with a governmental or quasi-governmental contract and its life is limited to the contract…

Analysis

Tax regulations in Qatar
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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 Public Revenues and Taxes Department (PRTD) also issues circulars from time to time to provide guidance on the interpretation of provisions in the Qatar tax law and its application in practice. ELECTRONIC TAX ADMINISTRATION: The Qatar Ministry of Finance has launched a new online tax administration system (TAS) to “modernise and transform tax administration functions”. TAS is…

Analysis

The Qatar Financial Centre offers wide-ranging incentives for investors
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The Qatar Financial Centre (QFC) was established in 2005 with the ambitious aim to attract financial institutions and multinationals to establish businesses in international banking, financial services, insurance, corporate head office functions and related services. Consistent with Qatar’s drive to diversify its economy, the QFC has now opened its doors to include a range of professional business-to-business services. The QFC Authority is the commercial and strategic arm of the QFC that processes licence applications for entities seeking to carry out permitted non-regulated activities in and from the QFC. Its counterpart, the QFC Regulatory…

Viewpoint

Stephen Anderson, Managing Partner, PwC Qatar, on the state’s focus on delivery and value
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This has been another turbulent year for the region, with the dramatic decline in oil prices and continued geopolitical instability on the GCC’s borders. Making predictions on oil prices can often be a fool’s errand. As recently as November 2014, the consensus price for the end of 2015 was around $95-100 per barrel, and I am sure many of us are embarrassed by predictions we made at the time. That said, we believe that Qatar is one of the best-placed GCC nations to weather the current…