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Qatar Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
2,363,569 (July 2018 est.)GDP (PPP)
$339.5 billion (2017 est.)GDP growth rate
1.6% (2017 est.)Driven by oil price (account for approximately 50% of GDP) and real estate sector pushed by public investments (including World Cup in 2022). Qatar is suffering trade restriction imposed by Saudi Arabia, the UAE, Bahrain, and Egypt in 2017
GDP (PPP) per capita
$124,100 (2017 est.)The highest in the world (micro countries excluded).
Local currency
Qatari riyal (QAR)Pegged to the USD (1$ = 3,64 QR)
Financial stability (Public debt)
53.8% of GDP (2017 est.)Medium to low. Extremely related on oil price
Inflation
0.4% (2017 est.)Low
Language
ArabicEnglish commonly used as a second language
Corruption perception index (Source: Transparency International)
Rank 33/180Medium level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
Zero VATVAT will be introduced and effective from 1 January 2020 (5% rate)
Corporate Tax
10% standard rateCertain exceptions available (in particular in oil&gas sector) Different tax regimes are available for foreign investors especially in financial and R&D sectors Moreover Qatar has created 2 free trade zones with up to 20 years tax holidays (zero duties, corporate and personal tax)
Duties
Customs duties are normally at a rate of 5%Some goods including tobacco or carbonate drinks pay more. Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, and Oman goods are exempt from duties.
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