VAT Consultant in Qatar

VAT Consultant in Qatar

Qatar with representatives of the other Member States of the GCC confirmed the introduction of VAT across all six Member States through the signing of a VAT Framework in 2017. With the advent of VAT in Qatar, companies will require guidance on VAT implementation and VAT impact. In this regard, Aviaan Accounting, the leading VAT consultant in Qatar facilitates in the following manner:

  • Timely and cost-effective VAT advisory services
  • VAT impact analysis
  • Provide advice on taxation
  • Ensure compliance with the VAT law
  • Guidance on Customs clearance as well as designated zone related issues.

The framework act as the basis for the VAT legislation in each Member State by stipulating. It must be followed by all members while allowing the countries to opt for different VAT treatments concerning some supplies. Qatar is planning to implement a 5% VAT regime from 1 April 2021. The VAT is being introduced as Qatar seeks to rebalance its reliance on oil revenues. Oil prices in Qatar have fallen drastically over the past five years. So far, only Saudi Arabia, UAE, and Bahrain have implemented VAT.

Qatar with representatives of the other Member States of the GCC confirmed the introduction of VAT across all six Member States through the signing of a VAT Framework in 2017. They act as the basis for the VAT legislation in each Member State by stipulating. It must be followed by all members while allowing the countries to opt for different VAT treatments concerning some supplies. 

Qatar is planning to implement a 5% VAT regime from 1 April 2021. The VAT is being introduced as Qatar seeks to rebalance its reliance on oil revenues. Oil prices in Qatar have fallen drastically over the past five years. So far, only Saudi Arabia, UAE, and Bahrain have implemented VAT.

What to expect from VAT in Qatar?

Preparing for Oman's phased VAT registration

The new VAT regulation in Qatar will be in line with other GCC member countries. The VAT framework treaty among the member nations would form the basis of domestic VAT legislation. The framework provides key regulations of the VAT law, which needs to be followed by all the GCC countries.

VAT Framework Treaty provides that VAT on the supply of goods or services within the scope of VAT will be charged at a rate of 5% unless the goods or services are exempt or zero-rated. The Member States have been granted the flexibility to choose whether the supply of specific goods or services is considered as zero-rated or exempt. 

The distinction between zero-rating and exemption is an important one; in both cases, VAT must not be accounted for on the supply, a supplier making exempt supplies is generally not allowed to recover input VAT concerning such supplies. Recovery of input VAT incurred concerning zero-rated supplies is generally allowable.

Key features of Qatar VAT regime

  • VAT law and Executive Regulations
  • Registration threshold of QAR364,000
  • Zero-rated for exports, medicines, and international transport
  • Exemptions for financial services, and real estate
  • Imports subject to VAT
  • Monthly VAT reporting

Must zero-rate:

  • Certain cross-border supplies of Services

May zero-rate:

  • Certain food items
  • Supply of transportation for commercial purposes
  • Oil, oil derivatives and gas Sector

Must exempt:

  • Importation, if the goods are exempted or exempted from VAT in the respective GCC State

Can zero rate or exempt:

  • Education sector
  • Healthcare sector
  • Local transport sector

How can Businesses prepare for VAT in Qatar?

Businesses should take steps to be ready for VAT law in Qatar, even though implementation dates of VAT in Qatar are uncertain. Preparation is essential because VAT liabilities are self-assessed, with errors or omissions are subject to severe penalties and time-consuming interactions with tax authorities. Businesses need to identify and claim the necessary resources for becoming VAT ready. It takes around a year for VAT implementation projects.

VAT Action Plan for Businesses

  • Assess VAT readiness with GCC VAT to develop roadmaps for the work necessary to be prepared for filing VAT returns.
  • Track your transaction to determine all future VAT liabilities and compliance obligations.
  • Review and update contractual arrangements with vendors and customers to determine each party is aware of its responsibilities for paying and accounting for VAT.
  • Develop or acquire tools for the preparation of VAT-compliant invoices and Set-up a process to summaries the VAT collected on invoices.
  • Management of all the items listed above by preparing yourself and your team for it.

Why Choose Aviaan Accounting for VAT Services in Qatar?

VAT is a new tax law in Qatar that is yet to be implemented. It is important to be ready in advance to avoid penalties and legal issues. We at Aviaan Accounting can help clients with their tax assessments and ensure that they comply with all the VAT laws. Our team has a lot of experience with regards to VAT Consultancy; we would make no errors in calculating taxes, ensure that your company stays prepared, and offer valuable tax-related insight. The benefits of Aviaan Accounting for your VAT requirements:

Reviews and Analysis with Efficiency:

Our team at Aviaan Accounting ensures that all of the clients’ business contracts and documents are thoroughly reviewed and analyzed so that tax assessment is done properly. We ensure no errors and omissions for smooth and on-time filing of the VAT return.

Providing Training and Resources:

We ensure that clients and their employees are well informed about the VAT taxation laws and understand the whole process of VAT return filing. Aviaan Accounting provides clients with the necessary resources and technology to meet their business’s VAT preparation needs.

VAT Compliance and Return Filing:

Our team clear your doubts and queries with regards to the VAT law in Qatar. We help you adhere to VAT laws in Qatar and with the VAT return filing process.

VAT Services in Bahrain

Aviaan Accounting VAT Implementation Process

We maintain an excellent system of accounting to provide quality VAT services in Qatar to clients. Here is how our team helps in VAT implementation:

  • Assistance in VAT registration by our team.
  • Analyze clients’ business for VAT deployment.
  • Analyse accounting requirements and IT hardware of clients’ businesses.
  • VAT returns assessment and filing by our team of VAT Consultants.
  • Assistance in processing and claiming of VAT refund.

Aviaan Accounting VAT Services in Qatar

The following are the types of VAT services in Qatar we offer at Aviaan Accounting:

Consultancy of VAT: Our team of consultants will help clients with VAT registration. They maintain a record of your tax invoices to avoid any penalties.

Agent Appointment of VAT: We fix you up with VAT agents experienced in VAT services for an appointment.

Deployment: Our team will help clients with the tax process transition since we have experience of working with VAT in different countries.

Compliance with VAT: Our team of VAT consultants will help you with compliance requirements according to Qatar VAT law to make sure that you file your VAT return on time.

VAT Filing: Our VAT consultants will help you record client invoices and file return the right way, and at the right time, so you don’t get a penalty.

Registration: Our team of VAT consultants helps clients with online VAT registration with the concerned authorities. It will help clients stay clear of the VAT registration documentation. 

Readiness Assessment: Our team offers a VAT readiness assessment for your business with VAT.