As per the Qatar Tax law companies should register with Public Revenue & Taxes Department (PRTD) within 30 days of their commercial registration(CR). Companies who fail to do so will be subject to a penalty of QR 5000.
Qatar Tax law provides that any business activity carried out in Qatar will be subject to tax. An "activity" has been defined as any occupation, profession, service, trade or the execution of a contract or any other business for the purpose of making profit. Income tax is levied on partnerships and companies operating in Qatar whether they operate through branches or in partnership with foreign companies.
The Gregorian calendar is used for Qatar income tax purposes, but a taxpayer may apply to prepare his financial statements for a twelve-month period ending on a day other than 31 December. The first accounting period may be more or less than twelve months, but it should not be less than six months or more than 18 months. A taxpayer should keep his accounting records in Qatari Riyals unless permission is obtained from the tax administration for them to be kept in a foreign currency.
In addition to tax compliance services, we provide tax consulting services to assist you in developing and implementing tax solutions to minimize the impact of tax on your business transactions. We offer you practical solutions to address your tax needs and in depth knowledge of Qatar tax requirements. With our tax professionals, we are in unique position to deal with the complexities and peculiarities of the Qatari tax system and also help you to meet the challenges of an increasingly sophisticated market.