Qatargas will supply four million tons of LNG annually to a consortium of seven Japanese companies. The deal was negotiated through Chubu Electric Power Company of Japan. Foreign Investment Qatar offers ten to twelve years in tax holidays for foreign investors. Wholly foreign-owned firms are permitted to operate in the country. Companies that invest in Qatar s industries enjoy exemptions from taxes on income, electricity, water, and power facilities.
Joint ventures involving foreign partners always take the form of limited liability partnerships.
Common practice has excluded foreigners from owning property or investing in privatized public services, but foreign investors have been allowed to own up to 25 percent stake in steel, fertilizers, and petrochemical industries. Law No. 4 requires that a local agent or representative acts as a sales channel for promoting products and services in the local market. Foreign-owned firms and the foreign joint venture partners are subject to corporate income tax, ranging from 5 percent to 35 percent. Tariffs for the most part are relatively low, about four percent for a wide range of products. Exceptions include cigarettes and steel which carry tariffs of 50 percent and 20 percent respectively.