- Qatar is modernizing its tax system to support a diversified economy as part of its National Vision 2030.
- Historically, Qatar relied on oil and LNG revenues, allowing for a low-tax model.
- Energy market volatility and climate change have prompted fiscal reforms for revenue diversification.
- Reforms include strengthening the General Tax Authority and preparing for a 5 percent VAT.
- The 2016 GCC VAT Framework Agreement promotes a harmonized VAT among member countries.
- VAT is already active in Saudi Arabia, UAE, Bahrain, and Oman; Qatar’s VAT law awaits implementation.
- Electronic invoicing is a priority for Qatar’s digital transformation, aligning with VAT rollout.
- E-invoicing is mandatory in Saudi Arabia and Egypt, and in pilot phase in the UAE.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
