EY seminar supports Qatar’s businesses in navigating region’s evolving tax landscape

EY has hosted its Qatar Annual Tax Seminar 2024 in Doha with the aim of guiding businesses in navigating the evolving tax landscape in the country and the MENA region. The latest edition of the event provided an overview of the major developments in the tax system that have taken place in Qatar and the wider region over the last 12 months.

The seminar saw the participation of around 200 C-suite executives and finance professionals from Qatar-based companies. The event leveraged the knowledge and practical experience of EY’s senior tax professionals to offer comprehensive insights that will help the participants achieve an optimal tax position and adapt their strategy in response to market trends. Experts from the Ministry of Finance and the Ministry of Commerce and Industry were also among the featured speakers.

The agenda covered all aspects of the taxes that are currently imposed in Qatar from the compliance and investment perspectives. Key topics included Base Erosion and Profit Shifting (BEPS) Pillar 2 and transformational changes to the existing Income Tax Law. In May 2023, the Qatar government issued the Amendments to the Executive Regulations to the Income Tax Law that redefine the application of tax for Qatari companies operating in other jurisdictions and foreign branch companies based in Qatar.

In addition, the sessions explored the state of the country’s economy and the opportunities it presents to companies and investors, as well as international tax reforms and their impact on the local tax environment.

Furthermore, the seminar examined regulatory updates and recent tax trends across the MENA region with a focus on the GCC, which affect Qatari businesses operating in other jurisdictions. These included the implementation of corporate income tax (CIT) in the United Arab Emirates (UAE) and Bahrain, and the new draft CIT law in the Kingdom of Saudi Arabia (KSA).

Ahmed Eldessouky, EY Kuwait, Qatar and Oman Tax Leader, says:
“Keeping up to date with any changes in tax regulations is crucial for businesses to make informed decisions. While last year’s Qatar Annual Corporate Tax Seminar touched upon the upcoming changes to the Income Tax Law, this year, we took a deep dive into the Amendments to the Executive Regulations and their implications for businesses operating in Qatar. The takeaways from the event will help taxpayers assess how these amendments will affect their tax compliance obligations and potential tax liabilities.”

Qatar is known for its dynamic tax landscape. Its government is proactively working to increase transparency and optimize its tax regime with the aim of stimulating growth and development in line with the Third National Development Strategy (NDS3) under Qatar National Vision 2030. The country is expanding its tax treaty network, notably with Kuwait, Saudi Arabia and Egypt. The nation has also joined the Organisation for Economic Co-operation and Development (OECD)/G20 Inclusive Framework (IF) on BEPS, which seeks to ensure that multinational enterprises pay a fair share of tax wherever they operate.

Kevin McManus, EY Qatar International Tax and Transaction Services (ITTS) Partner, says:
“Commonly called the 15% global minimum tax, BEPS Pillar 2 requires multinational enterprises (MNEs) to familiarize themselves with the Global Anti-Base Erosion (GloBE) rules and meet increased compliance obligations. Addressing these areas will be critically important to support the business community’s overall ability to comply with the evolving taxation regulations. EY provides companies with much-needed support in responding to the latest developments shaping the tax landscape in an agile and efficient way.”