What will you do effective January 01, 2010..... Qatar will implement Income Tax for all

First I think if you live in Qatar you should know the laws better. Second this is the article in Gulf News today and I think it is very clear what it says:

Doha: Qatar issued a new tax law on Tuesday that will be effective on January 2010, Qatar News Agency (QNA) reported.

"Shaikh Tamim Bin Hamad Al Thani, the Emir's deputy and crown prince, issued today law No. (21) of 2009 on the issuance of the income tax law. The law is to go into force as of January 1, 2010 and is to be published in the official gazette," QNA said.

Shaikh Tamim is sitting in for his father Emir Shaikh Hamad Bin Khalifa Al Thani who is attending World Summit on Food Security in Rome.

The official agency did not give details about the law, but it is most likely to cut corporate taxes to 10 per cent down.

Earlier this month, Qatar’s Finance Minister Yousuf Kamal said that Qatar planned to lower the tax rate on foreign companies to a flat 10 per cent starting next year.

“There is a new tax law and once promulgated it will lower the rate to 10 per cent,” the minister told a press conference in Doha.

Qatar currently imposes a profit tax on foreign-owned companies at a progressive rate ranging from 10 to 35 per cent.

A Western news agency earlier reported that Qatar would introduce an individual income tax. However, a government official later said that the new income tax law would apply to revenues of corporations and not that of individuals.

"This law will apply to companies ... not people," the official, who declined to be identified, told the news agency by telephone.

Income Law No. 11/1993 imposes income tax on the taxpayer - natural persons and corporate bodies- arising from activities in Qatar, including profits from any contract executed in Qatar, profits realised from the sale of any asset of an establishment, agency commissions, consultation fees, amounts from the sale, rent or concession of intellectual property rights, bad debts collected by the taxpayer and net profits upon dissolution of a company.

Tax liabilities are computed on the basis of profits disclosed by audited financial statements, adjustments for tax depreciation and any items disallowed by the Income Tax Department.

However, corporate tax is levied only on foreign owned business entities in Qatar, and there is no tax rate for Qatari-owned businesses.

According to Forbes 2009 Tax Misery & Reform Index, which evaluates policies that attract or repel capital and talent, Qatar has the world’s friendliest tax climate.

Qatar has embarked on a massive plan to curb its heavy reliance on oil and gas income by spending billions of dollars to develop its non-oil economy.

MP Jassem Husain, a Bahraini economist and business analyst, has repeatedly called for the imposition of taxes on foreign and local investments as a means to boost the state budget that will enable the launch of massive projects while reducing reliance on oil income.

New tax law has already been issued, and is applicable only to business entities.

http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=326970&version=1&template_id=36&parent_id=16#

Qatar is the wealthiest country in the world, with tremendous Grand Income Per Capita. I don't think the goverment is planning a personal income tax, since they do not need contribution of public to the national budget... At least for now :)

Guys .. nothing to worry on it. Go thru the below link..

http://www.arabianbusiness.com/573814-new-qatar-tax-law-for-cos-not-individuals

I cant see anything worrying in it...If we can pay taxes on our own country....why cant we pay here?

when it is mentioned clearly that the tax is on COMPANIES and NOT ON INDIVIDUALS.

Someones got to improve their arabic here

This is not a PERSONAL income tax but for COMPANIES!!!! There will be no personal income tax law. And the company tax laws have been relaxed, so that instead of taxing a company 35% on the first 200,000 dollars of profit, they will be taxed only 10%. The law has been amended to attract more companies here.

I am confusing myself staying here or go home.

This might support my decision to go home rather than staying here.

I think I will start packing up and send my resume to move to other country...

Everything is relatively expensive here. With the income tax, I think a lot of place will be better then here.

The weather, the living cost, the people, the school, the cars....

Sad, I met a lot of good friends from QL..

but If the tax is implemented, Qatar not interesting anymore ... But still,I can meet friends through FB :)

if it is applied to every one what will happen to low income workers, that paid only 800QR/MNTH WHAT WILL HAPPEN TO THEM?????? IN THIS CASE THEY SHOULD INCREASED THERE SALARY!!! PLS HAVE MERCY ON THEM.....THANKS

New Qatar tax law for corporates not individuals

Tue Nov 17, 2009 8:09am

More News

Qatar to impose income tax in Jan -state news agency

DUBAI, Nov 17 (Reuters) - Qatar's new income tax law would apply to revenues of corporations and not that of individuals, a government official said on Tuesday, clarifying a report on the official news agency.

The official Qatar News Agency said earlier on Tuesday the new income law would take effect as of Jan. 1, without specifying the type of income it would tax.

"This law will apply to companies ... not people," the official, who declined to be identified, told Reuters by telephone. (Reporting by Inal Ersan; Editing by Amran Abocar)

Source- www.reuters.com

Here is the info in english - start packing the bags folks.

http://www.reuters.com/article/hotStocksNews/idUSLH60897120091117

If the government start taxing individual expat then it will open a pandora box. People will then demand parity with local nationals regarding subsidized housing, real free medical care, child care support, schooling etc and maybe many things more as time passes.

Though i think that is all small talk, Dubai gov has been dwelling on this for a long but has not dared to go ahead on this issue.

Most probably it will be done indirectly t by increasing the visa fees.....that all it will be...chao

If the government start taxing individual expat then it will open a pandora box. People will then demand parity with local nationals regarding subsidized housing, real free medical care, child care support, schooling etc and maybe many things more as time passes.

Though i think that is all small talk, Dubai gov has been dwelling on this for a long but has not dared to go ahead on this issue.

Most probably it will be done indirectly t by increasing the visa fees.....that all it will be...chao

Read it will, then comment pls.???!!!

Qatar on Tuesday issued a law imposing a tax on income, which may make it the first Gulf state to impose taxes on income. The Qatar News Agency that the law will take effect from the beginning of January.

The agency said Sheikh Tamim bin Hamad Al Thani, Deputy Emir of Qatar and the Crown Prince was released today by the Income Tax Act. The law provides for the imposition of this tax as of January 2010 and published in the official newspaper. A government official told Reuters that the new tax on income in Qatar will apply only to companies, not individuals.

hi i just copy and post from google translate....

for 100% the article says individuals but is the expatriate included? Here is the question that needs an answer and clarify

Mulngi

It is better for you to improve your arabic reading and understanding

it says:

الأفراد

means Indivisuals

if its for individuals and specially for expats then i will pack my bags and going back to my home country.....

The news you reffrred to, I think, is for companies and not for individuals.

Wallah Aalam

is that true?