Tax & Accounting Blog

Qatar Considering a VAT

Indirect Tax, ONESOURCE, Transaction Tax February 24, 2012

Qatar is considering introducing a value added tax in the near future. The General Secretariat of Development Planning (GSDP), in its recently released report entitled ‘Qatar Economic Outlook 2011-12’, said that although Qatar’s overall fiscal balance has been in surplus during the past few fiscal years, the balance on the  non-hydrocarbon account has been in persistent deficit which underlines the need to diversify the state revenue sources. Economists and businessmen, however, warn that if at all the government imposes VAT, small and medium enterprises and local products should be exempt from it.