PwC Qatar signs MOU with Oxford Business Group for forthcoming publication

Doha, 31 January 2016: The changing face of Qatar's tax regime and the impact of planned reforms on investors are amongst the topics set for analysis in a forthcoming report on the country by the global publishing firm Oxford Business Group (OBG).

The Report: Qatar 2016 will update readers on the latest changes to the country's tax and regulatory systems, including the introduction of a Wage Protection System (WPS), which came into effect in November. Other developments to be explored include a shift under way in the Qatar Tax Authority's approach to the taxation of capital gains on the disposal and transfer of shares in domestic companies by non-resident companies.

PwC Qatar has signed a memorandum of understanding (MOU) with OBG for the publishing firm's 2016 report on the State. Under the MOU, the professional services firm will team up for a third time with OBG to compile and produce the Accountancy and Tax Chapter of The Report: Qatar 2016.

Wadih AbouNasr, Country Senior Partner, PwC Qatar, said "Oil and natural gas revenues have placed Qatar as one of the highest per-capita income countries, as well as one of the fastest growing economies.Qatar continues to look at new ways and incentives to attract Qatari entrepreneurs and foreign direct investments as a way of diversifying its economy. With the new discussions around tax reforms in the region and the likely introduction of VAT, Qatar and GCC governments will need to make strategic decisions concerning key elements in the system, including harmonization of a number of areas across the GCC to make the VAT system fully efficient."

Oxford Business Group's Managing Director for Middle East, Jana Treeck, agreed that Qatar's changing economic landscape was creating a raft of new opportunities for businesses.

"Qatar's efforts to diversify its economy are already yielding significant results, with non-hydrocarbon growth now reaching double digits," she said. "Last year's announcement that the government plans to reduce spending in non-essential areas has set the scene for the private sector to further increase its contribution to Qatar's economic growth. I'm sure this will be one of many key issues that we explore with PwC in what promises to be an exciting year of research."

The Report: Qatar 2016 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will also contain interviews with leading representatives. It will be available in the second quarter of 2016, print or online.   

About Oxford Business Group
Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America and the Caribbean. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms. The Report: Qatar 2016 will be published in collaboration with the Ministry of Economy and Commerce. Contributions will also be made by PwC Qatar and the law firm Pinsent Masons.

The critically acclaimed economic and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG's online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG's consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.

About PwC Middle East
At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

Established in the Middle East for 40 years, PwC has firms in Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, the Palestinian territories, Qatar, Saudi Arabia and the United Arab Emirates, with around 4,000 people. (www.pwc.com/me).

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

For more information please contact:
Basak Pasali, Director of Communications
E-mail: bpasali@oxfordbusinessgroup.com 
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© Press Release 2016