Individuals and businesses that make any income during a fiscal year are required by law to file an income tax return each year. The revenue could come from a wage, business profits, and income from real estate, dividends, capital gains, interest, or other sources. Here we discuss about the Tax filing in Qatar. IHPCA is the best and leading tax services consultancy in Qatar.
Unless specifically exempt, an entity is taxable in Qatar if it generates Qatar-source revenue, regardless of where it is incorporated. With limited exclusions, taxable income is normally subject to a flat (CIT) rate of 10%
Companies formed in Qatar benefit from very low tax rates, with the corporate tax rate set at 10% per year.
In addition, a 5% withholding tax is payable on certain payments made to non-residents for royalties and technical services. The relevant rate for interest, commissions, brokerage fees, directors’ fees, attendance fees, and any other compensation for services performed entirely or partially in Qatar is 7%.
Requirements
According to income tax law, registered taxpayers must submit their yearly corporate income tax forms online and pay any income tax payable within four months of the end of the tax year. Connect with the best tax services consultancy in Qatar.
