Peter Kovessy is a reporter with Doha News. Prior to moving to Qatar in 2013, he was the editor of the Ottawa Business Journal in Canada. He holds a Bachelor of Journalism degree from Carleton University.
In its semi-annual economic update yesterday, the Ministry of Development Planning and Statistics (MDPS) confirmed publicly for the first time that Qatar will introduce a 5 percent value-added tax in 2018 as part of a GCC-wide agreement.
The report by New World Wealth found that the number of wealthy people – which it terms “high net worth individuals,” or those with more than US$1 million (QR3.64 million) in net assets – in Qatar has increased by 80 percent since 2007.
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