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.
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