Qatar is ranked second in the world for the lowest tax rates, according to research by PricewaterhouseCoopers, the World Bank and the International Finance Corporation. The GCC countries have amongst the lowest tax rates and simplest compliance requirements globally, the research showed. The Paying Taxes 2010 report revealed Gulf countries lead the world with their tax regimes, Emirates Business 24/7 reported yesterday. The report, part of the World Bank’s Doing Business research, ranked Qatar second, the UAE fourth and Saudi Arabia seventh. Oman was ranked eighth, Kuwait 11th and Bahrain 13th out of 183 nations. http://thepeninsulaqatar.com/Display_news.asp?section=Local_News&subsection=Qatar+News&month=December2009&file=Local_News2009121792113.xml

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