Shura Council Approves 15% Global Minimum Tax for Multinational Companies

Qatar, 24 December, 2024 : The Shura Council, chaired by Speaker Hassan bin Abdullah Al Ghanim, has approved amendments to the Income Tax Law (Law No. 24 of 2018), introducing a 15% global minimum corporate tax rate. The changes, announced during the Council's session on December 23, 2024, aim to ensure tax parity between local and multinational companies operating in Qatar.

The General Tax Authority (GTA) clarified that the amendment applies to multinational companies and foreign branches with annual revenues exceeding QAR 3 billion. Individual taxpayers and local companies in Qatar remain exempt, with the 10% corporate income tax unchanged.

The GTA emphasized the economic benefits of the amendment, including protecting Qatari multinationals from foreign taxes and retaining revenues within Qatar. It aligns with global efforts to combat tax base erosion and profit shifting, while supporting Qatar National Vision 2030's goals for sustainable development and transparency.

The amendment enables multinational companies to file their Domestic Minimum Top-up Tax (QDMTT) in Qatar, adhering to OECD and G20 standards under Pillar I and Pillar II global tax regulations endorsed by over 140 countries in October 2021.