Mesaieed Petrochemical Holding Obtains Income Tax Exemption

25 December 2019

Mesaieed Petrochemical Holding (MPHC) announced today that the Government has granted it an exemption from the income tax. Mesaieed Holding is one of the leading petrochemical companies in the region with diversified petrochemical products. The company produces olefins, poly olefins, alpha olefins and chlorine alkaline products.

Pursuant to this exemption which takes effect from 1 January 2019, the company’s shareholding in all associates will also be fully exempted from any income tax. In addition and following the income tax exemption adopted over the past years, the company will be able to refund taxes paid for last year 2018, an amount of QAR 170 million. This will support the company’s financial position, profitability and ultimately add a value to the shareholders’ equity.