Qatari Cabinet Approves VAT

by Lorys Charalambous, Tax-News.com, Cyprus

05 May 2017

Qatar's Cabinet has approved the introduction of value-added tax at a five percent rate, as part of an initiative among the Gulf Cooperation Council states – Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar, and Oman.

At the same meeting, the Cabinet approved a draft law to "exempt the share of non-Qatari investors in the profits of some companies and investment funds from income tax," the official Qatar News Agency reported.

In a meeting on June 16, 2016, Ministers of Finance from the Gulf Cooperation Council states approved, in principle, the introduction of VAT and new excise duties, as part of a common framework.

The agreement paves the way for the introduction of a pan-GCC VAT framework from January 1, 2018.

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

To manage your mailing list preferences, please click here »