TaxSavvyQA

Qatari company audit

We are fully Qatari owned. Do we need an audit?

The situation

Exempt companies above the simplified thresholds file the full return with audited accounts.

The law

  • Law No. 24 of 2018 and GTA filing rules for Qatari and GCC owned entities: The share of profit owned by Qatari and GCC nationals is exempt, but the entity still files
  • 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

Exempt Qatari and GCC owned companies below the simplified return thresholds may file without audited accounts. Above the threshold, the full return needs audited accounts. Public sources differ on the exact threshold, so confirm on Dhareeba.

What to do

  1. Check thresholds.
  2. Plan audit if above.
  3. Prepare Arabic report.
  4. File.

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

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