Understanding the ECL model 09 May 2023   ECL stands for Expected Credit Loss, a concept used in financial accounting to account for potential losses that may occur due to credit risks associated with financial assets. The International Financial Reporting Standards (IFRS) 9 require companies to use an ECL model to calculate the potential losses on financial assets, such as … Read More

Understanding the Objective of External Audit 09 May 2023   An external audit is a process that provides an independent opinion on a company’s financial statements, operations, and compliance with applicable laws and regulations. This opinion is expressed by a certified public accountant (CPA) who is not an employee of the company being audited. An external audit is an important … Read More

What is the Tax System in Qatar? 15 March 2023   Qatar has a relatively simple tax system compared to many other countries. There is no personal income tax in Qatar, but corporations do need to pay 10% percent of their profit share as tax. The simplicity of Qatar’s taxation system makes it relatively easy to file a tax return … Read More

Income Tax Amendments Highlights 07 February 2023   On the 2nd of February 2023, the Shura Council’s declared Issuance of the Law No.11 of the year 2022 amending certain provisions of the Income Tax Law of 2018. Law No. (11) of 2022 amending some Provisions of the Income Tax Law, Promulgated by Law No. (24) of 2018. The amendments came … Read More

Important Tax Alert for FIFA-related activities in Qatar 02 December 2022   In reference to the “Law No 10/2021 measures for hosting FIFA world cup, and Resolution No 9/2022 on tax and customs exemptions for hosting World Cup 2022”, resident and non-resident beneficiaries that have an agreement, directly or indirectly, with any business relation connected with FIFA and its affiliates … Read More

How Feasibility Study Can Benefit Your Projects 05 September 2022 A payroll management system is an organizational structure that controls the salaries of employees. However, today, payroll management systems encompass a much larger profile. It not only includes managing wages of employees but also manages the leave and holidays of employees based on the Qatari Labour law, book and file … Read More

How To Choose The Right Payroll Outsourcing Company For Your Business? 05 September 2022 A payroll management system is an organizational structure that controls the salaries of employees. However, today, payroll management systems encompass a much larger profile. It not only includes managing wages of employees but also manages the leave and holidays of employees based on the Qatari Labour … Read More

Advantages Of Auditing For Businesses 28 April 2022 Auditing is the process of inspecting and maintaining books of accounts. It portrays the financial position of the company. Irrespective of the size, all businesses and companies require their books of accounts to be inspected annually. There are various advantages of auditing for businesses. Some Of The Advantages Of Auditing Assures Investors … Read More

Things To Consider Before Choosing An Audit Firm 09 March 2022   Before pondering over the points to consider before choosing an audit firm in Qatar, it is necessary to know why it is important to hire a top audit firm. Hiring the service of an auditing firm is inevitable for any business organisation in the country. There are several reasons … Read More