According to the GCC VAT Framework Agreement, which was signed by all member states, the latest date for implementing VAT is 1 January 2019.
During 2018, it is anticipated that Qatar will introduce VAT at a rate of 5%.
Who will be affected by the new tax?
VAT will impact most sales of goods and services in Qatar, with limited exemptions (e.g. financial services, insurance) and consumption tax relief. VAT-registered businesses will be able to claim credit for VAT paid on their expenditure, relating to their taxable business activities.
How can KPMG help?
KPMG professionals can help businesses prepare for the implementation of VAT in Qatar from a consulting, compliance and technology standpoint.
For more information on introduction VAT in Qatar please click here.