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Today’s Top Headlines




Qatar To Create Value-Added Tax Collection Agency

by Lorys Charalambous, Tax-News.com, Cyprus

11 April 2017

Qatar has taken steps to establish a separate and independent tax authority ahead of the introduction of value-added tax in 2018.

The International Monetary Fund has released a new report on Qatari policies, which looks at the territory's preparations for the regime.

According to the Fund, a five percent VAT would raise additional revenue of about 1.5 percent of non-hydrocarbon GDP per year.

It added that a separate plan to implement excises on tobacco and sugary drinks, starting this year, will generate about 0.2 percent of non-hydrocarbon GDP in revenue. The IMF warned Qatar to ensure that: "high [excise] rates do not encourage undesirable substitution across similar products."

Both tax reforms are part of a pan-Gulf Cooperation Council initiative.

The IMF reiterated its earlier recommendations that Qatar further broaden its existing tax base over the medium term to complement the changes. It said that this should include "broadening the coverage of corporate income tax and further reforming energy subsidies."

TAGS: tax | value added tax (VAT) | energy | International Monetary Fund (IMF) | Qatar | tax authority | tax reform | Gulf Cooperation Council | Tax

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