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Tue 17 Nov 2009 05:25 PM

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New Qatar tax law for companies, not individuals

New income tax law to apply to revenues of corporations from Jan 1 - official.

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.

"Sheikh Tamim Bin Hamad Al Thani, the emir's deputy and crown prince, issued today... the income tax law," QNA had reported. "The law stipulates that it would be enacted as of the first of January 2010 and publication in the official gazette." (Reuters)

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ulhas 10 years ago

doeas these companies means small shops run by individuals too ??