Recent development
On 17 June 2021 – by Decision No (8) of 2021 – the General Tax Authority in Qatar (“GTA”) extended the deadline for the filing of master files and local files for the fiscal year ending 31 December 2020 to 30 September 2021.
What you should know
Qatar had issued transfer pricing regulations that are effective from 01 January 2020. The regulations require that taxpayers in Qatar submit and perform the following:
- Master file
- Local file
- Benchmark study
The regulations apply to taxpayers if the following condition are met. The taxpayer engages in
- Cross-border intercompany transactions, and
- has a turnover or total assets of more than Qatari Riyal 50,000,000 (approximately USD 14 million) in the fiscal year.
The deadline for filing the documentation is six months following the end of the fiscal year, with the first filing obligation set at 30 June 2021.
The GTA requires taxpayers to articulate consistent transfer pricing positions to effectively identify and evaluate transfer pricing risks of taxpayers and transactions.
Get in touch
The GTA expressed a specific need for consistency in transfer pricing documentation. We highly recommend utilizing technology to safeguard consistency, accuracy, and the quality of master files, local files, and benchmark studies.
Please feel free to reach out to our transfer pricing and tax technology experts. We‘re happy to help you prepare for the new transfer pricing requirements.
Book a meeting via this link!
