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Qatar To Overhaul CIT Structure
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, June 30, 2009
In a landmark move, Qatar has proposed to slash its corporate income tax rate to 10% for
foreign companies investing
from outside the Gulf.
Qatar ranks top in Forbes 2009 Tax Misery & Reform Index for providing
the best climate for attracting capital and highly-skilled labour. In HSBC’s
recent expatriate survey, the largest of its kind, Qatar ranked second highest
for providing a favourable financial climate, with Russia placing first.
The shift in tax policy comes after the Qatari governmen announced
that following falling oil prices, government revenues would be found by developing
non-oil sectors.
The law must be now be enacted by the ruler of Qatar before entering into force.
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