Foreign investors to get tax relief

February 20, 2014 - 4:42:01 am

DOHA: The Cabinet yesterday approved a draft law exempting non-Qatari investors from paying tax on their share of profits in joint stock companies. Enactment of the law will exempt non-Qataris investors from paying taxes resulting from the trading of all securities and investment funds.

At its weekly session chaired by the Prime Minister and Interior Minister, H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Cabinet also approved a draft law amending some provisions of Law No. 3 of 2007 concerning exploitation of natural resources. The amendment allows the Ministry of Environment to issue licences to eligible entities to extract, transport or exploit soil, sand and stone and their derivatives used in construction, according to rules to be specified by a law to be issued by the minister of environment.

THE PENINSULA

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