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Tribune news network
Doha
Mesaieed Petrochemical Holding Company (MPHC) has received income tax exemption from the government, the company announced in a statement on Thursday.
As per the exemption, effective from January 01 2019, MPHC’s shareholding in all of its joint ventures will be fully exempt from any income tax liability. In line with the historical tax exemption mechanism, it has also been approved that MPHC will be entitled to a tax refund of QR170 million pertaining to the financial year 2018.
This will enhance MPHC’s overall financial position and profitability, which would lead to improved shareholder value, the statement said.
MPHC is one of the region’s premier diversified petrochemical conglomerates with interests in the production of olefins, polyolefins, alpha olefins and chlor-alkali products.
Doha
Mesaieed Petrochemical Holding Company (MPHC) has received income tax exemption from the government, the company announced in a statement on Thursday.
As per the exemption, effective from January 01 2019, MPHC’s shareholding in all of its joint ventures will be fully exempt from any income tax liability. In line with the historical tax exemption mechanism, it has also been approved that MPHC will be entitled to a tax refund of QR170 million pertaining to the financial year 2018.
This will enhance MPHC’s overall financial position and profitability, which would lead to improved shareholder value, the statement said.
MPHC is one of the region’s premier diversified petrochemical conglomerates with interests in the production of olefins, polyolefins, alpha olefins and chlor-alkali products.
