The regular Cabinet meeting, chaired by HE the Prime Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani, yesterday approved a draft law that regulates investments by non-Qataris in the economy and agreed to refer it to the Advisory Council.
The draft law is set to replace Law No 13 of the year 2000 on the same issue.
After the Cabinet meeting, which was held yesterday at its headquarters at the Emiri Diwan, HE the Minister of Justice and Acting Minister of State for Cabinet Affairs Dr Hassan Lahdan Saqr al-Mohannadi said that the Cabinet discussed a number of subjects on its agenda.
The Cabinet approved a proposition by the ministry of finance on tax avoidance. The proposition was to adopt the international standards agreed by the Organisation for Economic Co-operation and Development (OECD) on preventing the corrosion of taxes and on the transfer of profits. The goal of those standards was to combat tax avoidance on the part of multinational entities.
The third subject on the agenda involved ratifying the following eight agreements and memorandums of understanding (MoU):
* Memorandum of understanding (MoU) signed between Qatar and Turkey on legal assistance in criminal affairs.
* Memorandum of understanding (MoU) in the central banking field between Qatar Central Bank (QCB) and Central Bank of Turkey.
* Memorandum of understanding (MoU) on co-operation in the field of tourism between Qatar and Turkey.
* Memorandum of understanding (MoU) in the field of legal and judicial training signed between the governments of Qatar and Turkey.
* Memorandum of understanding (MoU) in the field of food products’ safety, signed between the governments of Qatar and Turkey.
* Memorandum of understanding (MoU) between Qatar Media Corporation and The Turkish Radio and Television Corporation (TRT).
* Memorandum of understanding between the governments of Qatar and Turkey in the field of humanitarian aid and assistance.
* An agreement between the governments of Qatar and Ethiopia on the suppression of visas for holders of diplomatic and special passports.
The Cabinet also reviewed a report by the Qatar Financial Markets Authority’s complaints committee for the first half of 2017, and took the appropriate measures based on the report.
The committee is responsible for giving a ruling on complaints made against the authority’s decisions. It is chaired by a judge from the court of appeals.
Its members are two judges from the court of appeals and two other members who have experience in the field of financial securities.
The report presented yesterday included the number of complaints made to the committee and the reasons for them, as well as the decision taken by the committee regarding those complaints.
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