Mesaieed Petrochemical Holding Company announced that it has received income tax exemption from the Government. 

As per the exemption, effective from 01 January 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 QR 170 million pertaining to the financial year 2018. This will enhance MPHC’s overall financial position and profitability, which would lead to improved shareholder value.