Financial Centre Announces Financial Support Package

Qatar’s Financial Centre has announced a financial support package for the registered entities it regulates. It will provide tax filing deadline extensions for affected entities and they will not incur any late payment penalties. In addition, the late payment charge rate will be reduced to 0% from 1 March 2020 to 31 August 2020. It will apply to submissions during this period. Any QFC firm who extends their filing due date will not suffer any late payment charges until 31 August 2020, even if the tax owed is paid after the payment due date. The Centre has also waived the Concessionary Rate Charge for entities who opt for the 0% Concessionary Rate under Part 15 of the Tax Regulations if they do so during 2020. In addition, the Centre will provide deadline extensions for filing audited annual financial statements by two months. The electronic services for firms looking to incorporate have also been enhanced and the Centre is continuing to offer a 24/7 call centre where clients can relay licensing and post-licensing queries, as well as other business servicing questions. Histoire complète

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