Today, Wednesday, May 31, is the deadline for submitting tax returns for corporate, individual, and home-based entrepreneurs.
The General Tax Authority called on taxpayers to quickly submit tax returns today, through the electronic tax portal.. and confirmed that a set of facilities had been prepared to help taxpayers submit the tax returns on the specified dates.
She said that the simplified tax return can be submitted by yourself, if you own a tax-exempt company owned by Qatari citizens or a GCC citizen, provided that he resides in the State of Qatar, and the company’s capital is less than 1 million riyals and its annual revenues are less than 5 million riyals. Licensed home businesses are also required to submit a simplified tax return through the electronic tax portal.
Types of companies
All companies with foreign capital that include a partner are subject to tax regardless of the size of the capital or revenues at a standard rate of 10%. As for the Qatari companies, they are 100%. Or companies of citizens of the Cooperation Council, they are completely exempt from tax, and if the capital is less than one million riyals, and the annual revenues are less than 5 million riyals, then the declaration is simplified in the sense that it does not need approval from an accounting audit office, but if the capital exceeds one million riyals and the revenues 5 million riyals, the declaration must be approved by an accredited accounting audit office, and in both cases the company is exempt from tax and not submitting the declaration.
As for companies with foreign capital, if it is less than 200 thousand riyals and the annual revenue is 500 thousand riyals, they are required to submit a simplified declaration, but if the capital is greater than 200 thousand riyals and the annual revenue is more than 500 thousand riyals, then these companies are required to submit an approval report approved by Accounting audit office.
As for the penalties that are imposed in the event of delay in submitting the tax return, according to the law: “In application of the provisions of Article (24) of Law No. (24) of 2018 issuing the Income Tax Law, each taxpayer who does not submit the tax return within the period prescribed in accordance with the law and the regulations, shall sign He has a financial penalty of (500) five hundred riyals for each day of delay, with a maximum of (180,000) one hundred and eighty thousand riyals.
Commercial activities data
The taxes confirmed that submitting the declaration does not mean paying the tax, but rather the presence of complete data and information on commercial and service activities in the country, and stressed that the tax rate in Qatar on activities with a foreign partner is one of the lowest rates in the world – 10% – only, and that activities with ownership 100% for Qataris, completely tax-exempt.
The authority stressed the need for household projects and small and medium-sized companies owned by Qatari citizens and from the countries of the Cooperation Council for the Arab States of the Gulf to submit the “simplified declaration” on their own through the electronic “taxah” portal.
The simplified tax return does not require an accounting audit office or a transaction clearance office to complete and submit the declaration, and the taxpayer can submit the declaration by himself without any assistance. Therefore, resorting to these offices incurs additional costs and expenses for the taxpayer who is indispensable for them and can easily dispense with and save them. The system has been prepared in a simplified manner that enables the taxpayer to complete all transactions without the need for assistance.
Income tax is imposed in Qatar on the basis of the source of income with limited exceptions. In general, the income earned by resident individuals or legal entities from Qatari sources is subject to income tax at a rate of 10%. Legal persons wholly owned by Qataris, and in the proportion of legal persons partially owned by Qataris in proportion to their profits shares therein.
The provisions of Law 24/2018 do not apply to the following: ministries, government agencies, public agencies and institutions, international organizations and their branches operating in the country, associations, private institutions, and private institutions of public interest established in accordance with the provisions of the law regulating any of them: salaries, wages, allowances, etc. In its ruling.. the total income from estates and inheritances.
Tax.. an electronic system
And “taxes” is an electronic system that links the General Tax Authority and its partners from the relevant government agencies, and the taxpayers (taxpayers).
The electronic tax portal aims to provide the best tax services and make them available in an effective and easy manner. It manages, calculates and reviews different types of taxes. It also helps taxpayers to know the procedures for their transactions electronically, which contributes to achieving better results in general for the state. It also saves taxpayers time and effort to take advantage of The Authority’s services, the most important of which are: issuance of the tax card and appointment of the taxpayer’s representative.
The system provides integrated and convenient services that allow companies to verify the validity of tax returns and all required documents, and facilitate the process of paying taxes through an approved online portal.
In addition to companies receiving instant notifications and alerts regarding their transactions, with the aim of reducing expected errors when submitting new applications, it also saves time and effort in the event of the need to submit documents or documents required to complete previous transactions.
home entrepreneurs
Owners of licensed home projects must register with Tax, which are projects whose owners take their homes as their headquarters and carry out their activities in them, and the Ministry of Commerce and Industry granted them licenses to conduct commercial businesses in homes, which are projects consisting of activities that do not require high costs, and in which personal skills are relied upon as an It is essential, and it does not use disturbing equipment for comfort or dangerous materials, and the aim is to obtain a measure of profit and provide living costs for the licensee and his family.
In order to facilitate the owners of these projects, a ministerial decision was issued stipulating the abolition of the requirement to place an identification board at the entrance of the house licensed to practice the activity, while not placing any advertising or promotional panels on the house or its external walls, and it is prohibited to place flags or tape panels. This amendment came as a response to the desire of the public and as an incentive for owners of small projects, and to facilitate license applicants to conduct commercial businesses in homes, as placing an identification board may expose the residents of a house licensed to practice activity in it or part of it to embarrassment, and be a reason for not requesting a license, given privacy considerations. In the Qatari community, and to maintain the continuity of home projects.
The granting of licenses to conduct business at home aims to regulate the practice of commercial activities from home, open opportunities for entrepreneurs and owners of small projects and urge them to innovate, develop and support their capabilities and ideas, to invest in their own projects, by allowing them to practice some commercial activities from their homes, which It is a motive for expanding and developing their projects, opening commercial stores, and contributing to economic development and economic diversification.
