Foreign investors will be allowed up to 100% ownership in more sectors in Qatar under a new law. HH the Emir Sheikh Hamad bin Khalifa al-Thani yesterday issued Law No. 1 of 2010, amending some provisions of Law No. 13 of 2000, regulating the investment of non-Qatari capital in the economic activity. Foreign investment is limited to 49% of capital for most activities in the state; however, upon special government approval, up to 100% ownership by non-Qatari investors may be allowed in certain sectors, reports the Gulf Times.
New Qatari tax laws designed to encourage foreign investors
The implementation of new tax laws in Qatar has been specifically designed to encourage foreign investment, it has been said.
Since the beginning of 2010, a seven per cent withholding tax on some payments made by expatriates has been cut to five per cent, while tax rates for foreign-owned businesses have fallen to ten per cent from a high of 35 per cent.
Under the new law, only companies involved in the gas and oil sector will have to pay the 35 per cent rate, reports the Peninsula .
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