Doha: Qatar, one of only two Arab economies in the Gulf region without value-added tax, will likely wait longer before imposing the levy.
"We will look to the right time to apply such taxes,” Minister of Finance H E Ali bin Ahmed Al Kuwari said in an interview today with Bloomberg Television at the Qatar Economic Forum in Doha. "Tax reforms are part of our plans.”
Last year, Al Kuwari said his country hasn’t yet chosen when to go ahead and was wary of adding an extra burden on consumers in the midst of the pandemic.
The Minister said Qatar isn’t isolated from global tailwinds including price pressures, warning that results may not be too favorable "when you apply taxes in such inflationary cycles.”
Saudi Arabia already tripled its VAT rate to 15% in 2020 to bolster state revenue when oil prices slumped. Kuwait has also not introduced VAT.