In a world of increasing regulatory scrutiny, the need for effective corporate measures to mitigate the risk of fraud is more important than ever. Although companies in Qatar may be better insulated than some from the effects of economic troubles, businesses should still consider their fraud risks.
The Qatar Financial Centre (QFC) was established in 2005 in order to attract international financial institutions and multinational corporations to establish businesses in international banking, financial services, insurance, corporate head office functions and related services. The QFC has two authorities, the QFC Authority (QFCA) and the QFC...
During my five years in Qatar the country’s development has been nothing short of meteoric. Much of this growth is driven by development of gas reserves in the North Field. Indeed, no visit to Qatar is complete without a tour of the Ras Laffan complex, where one can truly appreciate the breadth of vision, complexity of engineering, and scale of...
Panama has a territorial taxation system that levies taxes only on operations that take place or that have effects within the country’s territory. Income tax, in particular, is levied only on income that arises from a Panamanian source, regardless of the nationality or residence of the income recipient.
The government has been very active in the tax arena, proposing more than 10 tax bills between 2009 and 2013. These tax reforms and amendments have covered direct and indirect taxation. Corporate tax rates were reduced, while indirect taxes have been increased. Still, Panama has one of the lowest value-added tax rates in the region (7%). Tax...
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