Qatar

QATAR adopted a new 10% corporate income tax on October 6 that will apply retroactively to corporate profits earned in the country since last January

November 01, 2011

QATAR adopted a new 10% corporate income tax on October 6 that will apply retroactively to corporate profits earned in the country since last January. There is speculation that it may lead to similar taxes in cash-strapped countries along the Persian Gulf. Dubai is still struggling with large debts after the collapse of the real estate market. However, the Chadbourne office in Dubai says it considers introduction of a corporate income tax unlikely.

Keith Martin