TaxSavvyQA

Audit timeline to meet the tax deadline

How early should the audit start to meet 30 April?

The situation

The return is due four months after year end, with audited accounts attached where required.

The law

  • Law No. 24 of 2018 on Income Tax (tax returns): Return due within four months after the accounting period ends; GTA may extend by up to four months
  • Executive Regulations of Law No. 24 of 2018 (audited financial statements): Audited IFRS accounts must go with the return if capital exceeds QAR 200,000, income exceeds QAR 500,000 or the head office is abroad; accounts in Arabic from 2020

What it means for you

For a December year end the return is due 30 April. Work back: books closed by mid February, audit fieldwork in March, Arabic report signed by mid April. A slip of two weeks in any step can push filing late and start the QAR 500 a day penalty.

What to do

  1. Close books in 6 weeks.
  2. Book audit for March.
  3. Agree Arabic timing.
  4. File on time.

We can do this for youStatutory audit and IFRS financial statements in Arabic for the tax return: QAR 7,500

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