hat tip-Margo I.

Qatar set to beat Dubai in entrepreneurial wealth
April 5, 2008 The Peninsula
doha • Qatar is set to surge ahead of Dubai as the main spot for entrepreneurial wealth creation thanks to a planned reduction on corporate taxes, according to the FORBES Misery & Reform Index. Qatar and Dubai will both beat out defending low-tax champion Hong Kong in entrepreneurial wealth creation. The Misery measure annually sums up the top rates faced by a successful enterprise not enjoying tax favours. The Index said: “With a planned major reduction in its only significant levy, on corporate income, the Gulf state (Qatar) will best nearby Dubai as an enticing spot for entrepreneurial wealth creation.” According to FORBES: “Perhaps the greatest ferment on this front (tax rates) is in the Gulf, where various governments are trying to broaden their economies beyond today’s oil wealth. The looming action by Qatari authorities may have been triggered by a discussion of tax at the 2007 Forbes CEO Middle East Forum in Doha. Other states in the region are also jockeying to try to gain or protect and edge.”

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