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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