Accounting and tax services in Qatar

Tax Filing

Companies established in Qatar enjoy relatively low tax rates where the corporate tax is 10% annually.

A withholding tax of 5% is also levied on certain payments made to non-residents in relation to royalties and technical services. For interest, commissions, brokerage fees, directors’ fees, attendance fees and any other payments for services carried out wholly or partly in Qatar, the applicable rate is 7%.

The Ministry of Economy and Commerce requires all companies to draw up annual financial statements in accordance with International Accounting Standards.

Our professional staff are experienced in dealing with multiple systems such as SAP, Oracle, and Dynamics GP/AX, and can assist with reporting requirements in line with your needs.

TMF group has the leading in-house experts in accounting; we can handle your monthly withholding tax filings, and accounting needs.

Bookkeeping and Reporting Services

Depending on the nature of your needs, these are the services we can provide:

  • Monthly bookkeeping in the local applicable GAAP and IFRS, with the local adjustments when necessary
  • Preparation of monthly financial reporting
  • Record all payments and funds received
  • Record all accounts receivable and accounts payable
  • Record all assets purchased and related depreciation
  • Record prepayment and accruals

Financial reports

Let us know your requirements and we will prepare a reporting package to suit. The report shall include:

  • Balance sheet
  • Income statement
  • Trial balance
  • Bank reconciliation statement
  • General ledger listing
  • Balance sheet and selected expenses schedules
  • Petty cash report
  • Client’s monthly reporting package, if required

Accounts Payable Service

  • Invoice review and preparation for payment documentation
  • Setting up payment in the TMF Group banking system
  • Payment approval by management and senior staff
  • Payment documents administration and reconciliation with the accounts payable list
  • Client and supplier correspondence

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Get in touch to find out how our experts can help grow your business. If you need any more information, or simply wish to ask a question, feel free to get in touch.

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