His Excellency Mr. Khalifa bin Jassim Al Jaham Al -Kuwari, Chairman of the General Tax Authority, valued the approval of the Council of Ministers to a draft decision that gives a tax advantage for capital profits resulting from the restructuring of companies within one group, stressing that this step enhances the directions of national economic policy aimed at diversifying the economy, supporting the growth of companies, stimulating the flow of investments, and enhancing the competitiveness of the national economy in the long run.
His Excellency explained that the decision represents a strategic step in the path of building a flexible and stimulating investment environment, by updating the tax system to become more competitive and the ability to adapt to the rapid transformations in the global economy, in line with the best international practices in this field. His Excellency also pointed out that enabling companies and encouraging them to include in the financial market not only contributes to supporting their expansion, but is also an essential pillar to enhance the attractiveness of the national economy, attract foreign investment, and establish confidence in the Qatari market as a stable and safe destination.
The head of the General Tax Authority stated that the move confirms the state’s commitment to enhancing the business environment and stimulating economic growth, as the Council of Ministers approved a draft resolution that gives a tax advantage for capital profits resulting from the restructuring of companies within one group.
The decision aims to create a more attractive climate for investment in a way that supports companies towards listing in the financial market. The decision also includes exempting capital profits resulting from the transfer or swap of assets in the holding companies, as part of continuous efforts to keep pace with international best practices and stimulate sustainable institutional growth.
His Excellency highlighted that the decision came as a practical response to the requirements of the Qatari economy, as the authority was keen to develop effective solutions that meet the aspirations of the business community and serve the goals of economic and social development. He added that this trend reflects the flexibility of tax policy as a strategic tool to enhance competitiveness in a global market based on attracting investments.
The General Tax Authority affirms its continuous keenness to support policies and initiatives that contribute to the modernization of the tax system, and to enhance the business climate, in a way that promotes economic growth, and keeps pace with the state’s aspirations towards sustainable development based on diversity and openness.