Comprehensive Assistance for Tax Obligations

At our firm, we specialize in guiding you through the preparation and submission of Year-End Tax Declarations using the Dhareeba system or Qatar Financial Center portal tailored to meet the requirements outlined in the Qatari Income Tax Law (24) of 2018 and its Executive Regulation and QFC Tax regulations respectively. We understand the nuances of the law and work diligently to ensure that your income tax declaration aligns with its provisions. 

Understanding Tax Obligations

In Qatar, and for companies subject to GTA regulator and their businesses engaging in any activity within the state are subject to corporate or withholding tax as per the income tax law. This encompasses a wide range of activities, including occupations, services, trades, professions, contractual agreements, or any other ventures aimed at generating profits. Whether you operate through local entities, branches, permanent establishments, or foreign joint ventures, our expertise ensures that your tax obligations are addressed comprehensively. 

Withholding tax is not applicable for QFC registered entities. 

Adherence to Reporting Periods

We use the Gregorian calendar for Qatar income tax purposes but recognize the flexibility for new companies to choose different financial year-ends. If a company is not established on January 1st, it can apply for a financial year-end other than December 31st. The initial accounting period can be between six to 18 months. Our team helps determine the best reporting period for your business, ensuring compliance and simplicity. Companies require approval from the GTA if the accounting period is different from the calendar year. 

Importance of Accurate Accounting Records

Moreover, we emphasize the importance of maintaining accurate accounting records in Qatari Riyals unless the tax department has granted specific permission to utilize a foreign currency. This approach not only ensures compliance but also facilitates smooth interactions with tax authorities, mitigating any potential issues related to currency discrepancies.

Companies under GTA, QFC, QFZ, QSTP must maintain a proper accounting system in the entity.

With our expertise and dedication to compliance, our team at HLB AG offers a seamless experience in income tax return preparation and submission, allowing you to focus on your core business activities with confidence. Get in touch with our team today.