DOHA: The Qatar Financial Centre Authority (QFC Authority) has taken the unprecedented step of publishing its entire in-house tax guidance manual online, marking a first in the Middle East and North Africa region.
Called the QFC Tax Manual, it is intended to help payers of corporate tax and their agents interpret the rules and regulations, to provide them with greater certainty and clarity and assist in preparing tax computations and returns. This is the first time that all the QFC’s tax guidance material has been published together. Hyperlinks give ready access to items in the manual, which is used by the QFC’s tax team.
Last year the QFC published a Charter for QFC Taxpayers, which sets out what taxpayers can expect from the QFC Authority Tax Department in its dealings.
The QFC Tax Department has cooperated extensively with the authorities in reviews conducted under the Organisation for Economic Cooperation and Development (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes. Therefore, in addition to being transparent and robust, the QFC’s tax regime is party to effective exchange of information agreements negotiated by the Government of Qatar with other tax authorities around the world. The Peninsula
