QFC Sponsors International Fiscal Association Congress in Brazil

Doha, August 27 (QNA) - Qatar Financial Centre (QFC) has sponsored the 71st International Fiscal Association (IFA) Congress in Rio de Janeiro, Brazil, as part of its ongoing commitment to supporting international best practices in matters relating to tax, and it was attended by senior representatives of the QFCs tax department. In a press release, the center said the IFA, which focuses on international fiscal matters, brings together thousands of experts yearly to discuss the latest trends in tax and explore potential solutions to overcome practical implementations. "At the QFC, we take pride in ensuring that we are always ahead of changes in international tax and fiscal laws. Attending such a prestigious and international event is vital to ensure that we are kept up-to-date on the latest industry trends and changes. We were also pleased to have the opportunity to highlight the QFCs competitive and transparent tax regime as well as act as an ambassador for Qatar, Hamed Al Saadi, Chief Financial & Tax Officer at the QFC Authority commented on QFCs participation. QFC continuously looks for new incentives to support its firms and attract new businesses, and has proven successful in doing so. A prime example is its recent enactment of its amended Tax Rules and Regulations, which avails tax relief to firms who provide services overseas. QFC is an onshore business and financial center located in Doha and was established to provide a platform for firms to do business in Qatar and the region, as it offers its own legal, regulatory, tax and business environment. Moreover, it allows 100 percent foreign ownership, 100 percent repatriation of profits, and charges a competitive rate of 10 percent corporate tax on locally sourced profits and it welcomes a broad range of financial and non-financial services firms. (QNA)