Record expansions in both activity and new business in October

3 Nov 2021

PMI by IHS Markit

Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, hosted an in-person event, the first since the introduction of the COVID-19 related restriction measures, to discuss the opportunities offered by QFC corporate solutions in light of the recent developments in the global tax framework.

Recently, 136 jurisdictions, including Qatar, joined the Two-Pillar Solution proposed by the OECD/G20 to address the tax challenges arising from the digitalisation of the economy. Pillar 1 introduces important changes to nexus and profit attribution rules for major tech companies, whereas Pillar 2 introduces a global minimum tax of 15% with the aim to stop tax competition and set a floor for tax liability globally.

The event, which convened Q-companies, financial institutions, law firms and tax consultants, focused on Pillar 2 and how it would impact Q-companies having operations overseas.
During the event, leading tax experts clarified the potential impact of Pillar 2 on Q-companies and showed the importance of such impact on structuring decisions and the relevance of bringing some of those structures to QFC. 

The speakers discussed improving and developing the local capital markets and investment sector, highlighting the array of opportunities at the QFC platform for corporate structures that can be used for investment, holding assets, bonds, Sukuk, and Real Estate Investment Trusts (REITs). 

 

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