Corporate Tax

QFC hosts dialogue on enterprise options for the newest world tax developments

The Qatar Financial Center (QFC) hosted a face-to-face event, the first since the introduction of the Covid-19-related restriction measures, to discuss the opportunities QFC business solutions offer in light of the latest developments in the global tax framework.
Recently, 136 jurisdictions, including Qatar, have joined the “two-pillar solution” proposed by the OECD / G20 to tackle the tax challenges posed by the digitization of the economy.
Pillar 1 introduces important changes to the nexus and profit allocation rules for large tech companies, while Pillar 2 introduces a global minimum tax of 15% with the aim of halting tax competition and setting a lower limit on tax liability worldwide.

The Qatar Financial Center (QFC) hosted a face-to-face event, the first since the introduction of the Covid-19-related restriction measures, to discuss the opportunities QFC business solutions offer in light of the latest developments in the global tax framework.

The event, which was attended by Q companies, financial institutions, law firms and tax advisors, focused on Pillar 2 and its impact on Q companies operating overseas.
During the event, leading tax experts explained the potential impact of Pillar 2 on Q-Firms, highlighting the importance of such impacts on structuring decisions and the importance of bringing some of these structures into QFC.
The speakers discussed the improvement and development of the local capital markets and the investment sector and highlighted the diverse possibilities of the QFC platform for corporate structures that can be used for investments, holding of assets, bonds, sukuk and real estate investment trusts (REITs).
Yousuf Mohamed al-Jaida, QFC’s Chief Executive Officer, said: “As an onshore business and financial hub, QFC is very much about creating a level playing field for companies registered on its platform, which is why we continue to provide solutions to business challenges . ” to ensure that ease of doing business is a standard on the QFC platform. It is our goal to support our companies in realizing their ambitions in Qatar or beyond. Because of this, it is important for QFC to hold events like this one where we gather QFC stakeholders and experts in the field to discuss trends, developments and best practices that affect the business. “
The event also featured the latest legal developments surrounding QFC, including real estate ownership and its rapid approach to opening special purpose vehicles, and QFC as an ISDA-recognized netting jurisdiction.
Commenting on recent developments on the platform, Nasser al-Taweel, Deputy CEO & Chief Legal Officer, QFC said: “As Qatar opens its market to Real Estate Investment Trusts (REITs), QFC is encouraging local and international investors to join and target this market their REITs on the platform. This market offers both local and international investors a lucrative long-term investment opportunity, and we at QFC offer them access to a number of important services – including real estate registration and authentication in collaboration with our government partners, helping to create a legal framework to support the REITs. ”
QFC is an onshore jurisdiction that enables registered companies to enjoy competitive advantages such as: a legal environment based on English common law and the right to trade in any currency.

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