Jan 14 2011 |
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PwC sees great opportunities in Qatar for Turkish companies
Doha, Qatar - 14th January 2011-- PwC , the leading international professional services organisation, presented an overview of Qatar's tax and regulatory environment at a high profile event earlier this week at the Four Seasons Hotel in Doha, Qatar.The event was arranged for a large Turkish trade mission led by the Turkish Prime Minister, His Excellency Recep Tayyip Erdoğan. The Turkish trade mission comprised more than 200 companies from Turkey representing various industry sectors including construction, food and agriculture.
Speaking at the event, Sajid Khan, International Tax Director, at PwC in Qatar, said: "Qatar's previously planned infrastructure spending has been significantly boosted by the successful FIFA world cup 2022 bid. As expected, the winning FIFA 2022 bid will create many business opportunities in Qatar, which will further attract foreign companies to Qatar."
The PwC leader for services to new entrants, Ian Clay, commented that, "Such trade missions are an essential tool as Qatar starts to prepare for 2022 and to host the many planned sporting and cultural events in the intervening period."
Commenting on recent measures adopted by Qatar to attract foreign businesses, Sajid Khan added: "Qatar has significantly reduced the tax and regulatory burden on foreign companies undertaking business in Qatar by reducing the corporate tax rate and by relaxing foreign ownership restrictions for limited liability companies operating in the consultancy, IT, technical and distribution sectors. The existence of a double taxation agreement between Qatar and Turkey effective since 2009 should further facilitate the flow of investment and trade between the two countries. "
Qatari based companies also had a sizeable presence at the event. The presentation by PwC generated considerable interest and was very well received by the audience.
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See pwc.com for more information.
Established in the Middle East for over 30 years, PricewaterhouseCoopers has offices in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, Palestine, Qatar, Saudi Arabia and the United Arab Emirates, with around 2,500 people. Find out more at pwc.com/middle-east.
PwC has changed its name from PricewaterhouseCoopers to PwC . ' PwC ' is written in text with a capital 'P' and capital 'C'. Only when you use the PwC logo is the name represented in lower case.
" PwC " is the brand under which member firms of PricewaterhouseCoopers International Limited ( PwCIL ) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.
For more information, please contact:
Nancy D'Souza, Hill & Knowlton
Tel: +971 (50) 724 8824
e-mail: nancy.dsouza@hillandknowlton.com
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