Practical COVID-19 outbreak advice

Antonio Ghaleb

Antonio Ghaleb

Antonio Ghaleb is accredited in Qatar and holding the auditor’s registration number 348. Also he is a member of the following institutions: a) American Institution of Certified Public Accountant (AICPA), b) Guam Board of Accountancy, c) Certified in Risk Management Assurance “CRMA”, d) Chartered Global Management Accountant designation “CGMA”, and e) International Financial Reporting Standards (IFRS).

Business leaders that deal with long-term contracting projects face unique financial reporting issues related to the accurate reporting of revenue. International Financial Reporting Standards (IFRS) require reporting revenue based upon the percent of completion of a project as of the last day of the reporting year (International Financial Reporting Standards [IFRS], 2015a). The IFRS accounting standards require management to assess project budget that is material to the financial statement results. Without appropriate internal controls, these estimates are susceptible to manipulation by the management.

When the Tax season starts at Qatar most of the companies become significantly busy in preparing the financial statements and relevant supporting documents for the auditor’s review.

Also, along with the financial statements, every company must arrange its books to comply with the Tax law in Qatar and submit Tax return or Tax declaration to the Tax department accordingly.

Most of the companies must be cautious while dealing with Foreign Service Providers, which are not registered in Qatar. Companies must deduct withholding Tax 5 or 7% depending on the type of activity the Service Provider performs at Qatar. Withholding Tax is applicable only on the services performed by the Service Providers to the companies; however, materials are not subject to withholding Tax. Further, any service executed offshore (outside Qatar) is not subject to withholding Tax except royalties or any activity that gives the right to use a name, trademark etcetera. Withholding tax is applicable to service executed onshore (inside Qatar).

Page 4 of 4

Contact Us

Antonio Ghaleb & Partner CPA

Office Address
Lusail City, The e18hteen Tower 32nd Floor، Doha

Email: [email protected]

Phone: +974 4497 9530

Mobile: +974 7777 1870

Web: https://www.antonioghaleb.com

Office Timing (GMT +3)
Saturday to Thursday 8am - 5pm

footer logo3

AG & partner CPA was founded and registered in the Ministry of Economy and Commerce in Qatar under Commercial Registration number 103317

The founder is a member of the American Institution of Certified Public Accountant (AICPA) holding the membership number 6231191.

FOLLOW US


HLB International

Antonio Ghaleb and Partner is a member of HLB international- a world wide network of independent accounting firms business advisors. https://www.hlb.global

  +974 4497 9595

  +974 7777 1870

phone