|
As one of the wealthiest countries in the world, Qatar has traditionally relied on oil and gas revenues to fuel its economy. However, to diversify its revenue streams and reduce reliance on hydrocarbons, the Qatari government has introduced VAT in Qatar to generate additional income.
VAT is a consumption tax added to the price of goods and services at each stage of the supply chain. It is ultimately borne by the end consumer, making it an indirect tax. Implementing VAT in Qatar will be a part of a broader effort to modernise the country's tax system and bring it in line with international standards.
If you're considering VAT registration in Qatar, you must understand the current status of VAT implementation, including key dates and compliance requirements.
|