TaxSavvyQA

Master File and Local File threshold

When do we need a Master File and Local File?

The situation

If revenue or assets are QAR 50 million or more and there is a related party abroad.

The law

  • GTA President's Decision No. 4 of 2020 (transfer pricing documentation): TP declaration if revenue or assets are QAR 10 million or more; Master File and Local File if QAR 50 million or more and a related party abroad
  • GTA President's Decision No. 4 of 2020 (filing timing): TP declaration with the return; Master File and Local File within six months of year end

What it means for you

With QAR 70 million revenue and a foreign parent, both files are needed. For a December year end they are due by 30 June, two months after the tax return. Start the Local File benchmarking in the first quarter.

What to do

  1. Check thresholds.
  2. Obtain the group Master File.
  3. Prepare Local File.
  4. Submit by 30 June.

We can do this for youTransfer pricing declaration, Master File and Local File: QAR 9,000

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