Economic Structure Sheets

November 20, 2014  |  By  | 

KEY FEATURES OF QFC FOR COLLECTIVE INVESTMENT FUND FOR ASSET MANAGEMENT WHY QATAR? • 10% corporate tax rate • Multi billion dollar investments being made and in pipeline • Highest GDP per capita in the world • No income tax on individuals • World class banking system • Double tax agreements in orce with over 60 countries worldwide • High quality inrastructure (including telecommunications) • Strategic geographic location or Middle East markets • Good quality of life • Access to international schools and universities • Qatar Airways ies to over 120 destinations worldwide LEGAL, ADMINISTRATIVE AND REGULATORY ENVIRONMENT • Opportunities to establish unds, manage investments, market and sell units in Qatar and provide und administration services • A streamlined application process ensures licensing and registration with the Companies Registration Ofce is completed within a short timerame ater receipt o a single combined application • Transparent administrative process with easy access to decision makers • World class regulatory environment comparable with the UK and other best in class jurisdictions • Equally world class legal regime with access to an independent court, tribunal and Alternative Dispute Resolution Centre • Separate immigration and employment regulations based upon international standards • Accounts may be prepared in accordance with IFRS, UK GAAP, US GAAP or Islamic Finance Accounting Standards (AAOIFI) TAX • Competitive tax rate o 10% on profts o local asset management company • Tax exemption or Collective Investment Scheme income, with no withholding taxes on distributions out o the und to either local or international investors • Sel assessment regime or tax returns • Transer pricing guidance available • Can obtain binding tax ruling covering any areas o uncertainty • Tax losses o QFC entities can be carried orward indefnitely • Participation exemption applies or gains on qualiying shares • All dividend income is exempt • No wealth tax/Zakat or VAT • No personal income tax in Qatar DISCLAIMER: PLEASE READ The structures, examples and inormation contained in this document are only intended as a guide and to provide illustrative sa mples. Specifcally, the QFC Authority makes no recommendation or representation, gives no warranty or guarantee, and excludes all liability in respect o the document. Beore you take any action in respect o the document you must seek and rely on your own independent legal, tax and other proessional advice. PO Box 23245, Doha, Qatar • T: 974 4496 7777 • F: 974 4496 7676 • ino @ q • www.q QATAR FINANCIAL CENTRE (QFC)