QU president calls for revising financial incentives to attract investments to Gulf

27/02/2025 10:11 AST

The College of Business and Economics at Qatar University (QU), in collaboration with the General Tax Authority organised the Fourth International Conference on Fiscal Policies and Economic Development under the theme, 'Reshaping Investment Fiscal Incentives in GCC Countries'.

The event brought together a distinguished group of experts and researchers from various local and international institutions.

The conference aimed to discuss key developments focused on restructuring investment incentives in response to global changes.

By convening experts and decision-makers in finance and investment from around the world, the event sought to explore innovative strategies that contribute to the development of national frameworks and the enhancement of investments.

In his opening remarks, Dr Omar al-Ansari, President of QU, emphasised that the conference builds upon the successes of previous years.

He highlighted the importance of revising financial incentives to attract investment in the Gulf region, stressing the need to adopt appealing policies through diversified financial incentives-both direct and indirect, particularly tax incentives.

Dr al-Ansari pointed out that the conference supports the Gulf states' drive toward comprehensive economic diversification by reducing reliance on oil and gas revenues.

Achieving this goal necessitates a reassessment of fiscal and tax policies to align with international standards, especially given the increasing global economic competition to attract foreign investments and enhance local investment.

He underscored the need for a well-balanced and effective set of financial incentives to foster economic growth, generate employment opportunities, and advance technological integration.

This, in turn, would lead to greater participation by non-oil economic sectors in GDP, supporting capital inflows, and achieving sustainable economic development.

He further noted that the conference reflects QU's commitment to addressing global economic and financial developments that impact the national economy.

He reaffirmed the university's role in supporting and promoting scientific research on sustainability and economic development, including financial sustainability, by encouraging scholars to conduct research that provides practical solutions and recommendations benefiting the national economy.

He also highlighted the College of Business and Economics' academic programmes that support these efforts, attracting a significant number of students and supplying Qatar's labour market with highly qualified graduates capable of addressing economic challenges.

Khalifa bin Jassim al-Kuwari, President, General Tax Authority, stated: "This conference is the result of continuous efforts by the state to ensure a sustainable economy across all sectors, particularly amid the ongoing regional challenges and changes, particularly those related to the second pillar and its legislative and regulatory implications.

"The second pillar represents a crucial aspect of the global tax system, aiming to ensure that multinational corporations pay a minimum level of tax regardless of their country of incorporation. This shift requires a deep understanding of the new requirements."

Al-Kuwari stressed that researchers at the conference would work on developing suitable investment incentives and business environment policies to maintain investment attractiveness. He emphasized the importance of knowledge exchange among experts, specialists, and stakeholders to strengthen efforts in overcoming challenges and seizing opportunities in light of global economic shifts.

Katarina Kresal, Managing Director at Andersen Global, also keynote speaker at the conference, noted: "Global tax system developments are reshaping the entire economic landscape, particularly in countries that have long attracted investment through highly competitive tax regimes, especially corporate income tax policies. For investors in countries adopting the global tax framework, priorities will shift as they are now required to pay a 15% global income tax."

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