Services We Provide
Qatar Income Tax Compliance Services
Our team provides comprehensive Qatar Income Tax Compliance Services, ensuring your business adheres to local tax regulations, optimizes tax liabilities, and meets all filing requirements accurately and timely.
Tax Return Filing
Populate the Dhareeba template for income tax return filing and ensure the completion of the tax filing process
Transfer Pricing Compliance
Assist in preparing transfer pricing documentation
Assist in meeting WHT filing and obligations
Assist in complying with the requirements to declare contracts meet the thresholds of the tax department
GTA and QFC Representation
Act as a representative for clients before the GTA and QFC authorities with respect to tax matters
We study your business and identify the possible changes required within the company
VAT Transformation Implementation
"Expert guidance for seamless VAT implementation, compliance, and transformation of your business."
Assist in translation of documents from English to Arabic facilitating communications with various government bodies and particularly the General Tax Authories
Legal Document Renewal
Facilitate renewal of documents such as commercial registration, municipal license
Tax advisory services
We offer expert Tax Advisory Services, providing strategic advice to optimize your tax position, navigate complex tax regulations, and ensure compliance with all relevant tax laws.
Assistance with the renewal of company registration to ensure compliance with legal requirements and avoid penalties.
Assistance with the Transfer Pricing to ensure compliance with legal requirements and avoid penalties.
How can I improve the financial performance of my business?Improving the financial performance of a business involves a holistic approach that considers various factors. Here are some ways in which we can assist you: Conducting a thorough analysis of your current financial situation and identifying areas for improvement. Developing a comprehensive financial plan that aligns with your business goals and objectives. Implementing effective cost control measures and optimizing your expenses. Evaluating and improving your revenue streams and pricing strategies. Providing regular financial reporting and analysis to keep you informed of your business's financial performance. Conducting regular reviews of your financial plan to ensure that it remains relevant and effective. Offering guidance and support to help you make informed financial decisions. By working closely with you, we can help you develop and implement strategies that will improve your business's financial performance and help you achieve your goals.
What are the implications of VAT implementation in Qatar?The implementation of Value Added Tax (VAT) in Qatar has significant implications for businesses operating in the country. VAT is a consumption tax that is added to the price of goods and services at each stage of production and distribution. The implications of VAT implementation in Qatar include: Increased costs: Businesses will need to account for the additional costs of collecting, reporting, and remitting VAT to the tax authorities. This may require additional resources, such as staff and software. Impact on cash flow: Businesses may experience cash flow challenges as they will be required to pay the VAT they have collected to the tax authorities, even if they have not yet received payment from their customers. Increased compliance requirements: Businesses will need to comply with VAT regulations, which includes registering for VAT, maintaining proper records, and submitting accurate and timely VAT returns. Impact on pricing: Businesses may need to adjust their prices to account for the additional cost of VAT, which could impact their competitiveness in the market. Need for VAT planning and advice: Businesses may require VAT planning and advice to ensure that they are properly accounting for VAT and taking advantage of any available exemptions or reliefs. It is important for businesses operating in Qatar to understand the implications of VAT implementation and to take the necessary steps to comply with the regulations.
What are the benefits of conducting an internal audit?Identifying and mitigating risks: Internal audits help identify potential risks in the company's operations, processes, and controls. This allows management to take proactive steps to mitigate these risks before they can cause significant harm to the business. Improved efficiency and effectiveness: Internal audits help identify areas where the company can improve its operations and processes, leading to increased efficiency and effectiveness. Compliance with laws and regulations: Internal audits ensure that the company is complying with all applicable laws and regulations, reducing the risk of legal and financial penalties. Enhancing corporate governance: Internal audits help ensure that the company's board of directors and management are meeting their obligations and responsibilities, enhancing overall corporate governance. Improved decision-making: Internal audits provide management with reliable, accurate, and timely information that can be used to make better decisions and improve the financial performance of the business.
What are the requirements for starting a business in Qatar?The requirements for starting a business in Qatar can vary depending on the type and nature of the business. However, some general requirements include: Business plan: A comprehensive business plan is required, including details on the nature of the business, market analysis, financial projections, and more. Company registration: The company must be registered with the Ministry of Commerce and Industry (MOCI) and obtain a Commercial Registration (CR) number. Legal structure: The legal structure of the company must be determined, such as a Limited Liability Company (LLC), a branch of a foreign company, or a partnership. Capital requirements: Minimum capital requirements are set by the government depending on the type of business. Location: A physical location for the business must be secured, either through leasing or ownership. Licenses and permits: Depending on the nature of the business, additional licenses and permits may be required from various government entities. Hiring employees: Companies must adhere to Qatari labor laws when hiring employees and obtaining necessary permits. It is important to consult with a qualified advisor, such as an audit firm or legal consultant, to ensure compliance with all legal and regulatory requirements when starting a business in Qatar.
What should I expect during an audit, and how long does it usually take?During an audit, auditors will review financial statements, examine documentation, and test internal controls to assess the accuracy of the financial information. The length of the audit will depend on the size and complexity of the company, but it typically takes several weeks to several months to complete.
How much does an audit typically cost, and how is the fee determined?The cost of an audit will depend on the size and complexity of the company, as well as the scope of the audit engagement. Fees are typically determined based on the amount of time and resources required to complete the audit, as well as the level of risk associated with the engagement. It is important to discuss the fee structure and any potential additional costs with the audit firm before engaging their services.
What is an audit, and why is it important for my business?An audit is an independent examination of a company's financial statements and internal controls. It is important because it provides assurance to stakeholders that the financial information is accurate and reliable, and helps to maintain the integrity of the financial reporting system.
What qualifications should I look for in a Qatari audit firm?When looking for an audit firm in Qatar, there are a few qualifications that you should consider. These qualifications may vary depending on the type of audit services you need and the industry your company operates in. Here are some general qualifications to look for in a Qatari audit firm: License and Accreditation: Look for a firm that is licensed by the Qatar Financial Markets Authority (QFMA) and is a member of the Qatar Society of Certified Public Accountants (QSCPA). These organizations ensure that the audit firm meets certain standards and ethical requirements. Industry Expertise: Choose an audit firm that has experience working with companies in your industry. This will help ensure that the auditors are familiar with the unique challenges and risks associated with your business. Professional Qualifications: Ensure that the audit firm has a team of qualified and certified auditors. Look for certifications such as Certified Public Accountant (CPA), Chartered Accountant (CA), or Certified Internal Auditor (CIA). Reputation and Track Record: Do some research on the audit firm's reputation and track record. Look for client testimonials, case studies, and references. Check if the firm has a history of delivering high-quality audit services, meeting deadlines, and maintaining strong relationships with clients. Range of Services: Look for a firm that offers a range of audit services, including financial statement audits, internal audits, and compliance audits. This will ensure that the audit firm can meet all of your company's auditing needs. Technology and Tools: Choose an audit firm that uses the latest auditing tools and technology to ensure accuracy and efficiency in their audit process.
What are the benefits of hiring an audit firm?An audit firm can provide objective and independent assurance that your company's financial statements are accurate and reliable. This can help to build trust with stakeholders, such as investors, lenders, and regulators, and can also provide insights into areas where the company could improve its financial reporting and internal controls.
Can you help with corporate finance and investment advice?Morison Qatar provides top-notch corporate finance and investment advice to help clients achieve their financial goals. Our team of experienced professionals offers valuable insights and guidance on various financial matters, including mergers and acquisitions, restructuring, valuations, and capital raising. With our extensive network of industry contacts, we are well-equipped to help clients identify potential investment opportunities and navigate complex financial transactions. Trust Morison Qatar to provide expert advice and customized solutions that meet your unique financial needs.
How can you help me with tax planning and preparation?At Morison Qatar, our team of tax experts can work with you to develop proactive tax planning strategies to optimize your tax position while ensuring compliance with Qatari tax regulations. We understand that tax planning is an ongoing process, and we work closely with our clients to stay ahead of any changes in tax laws and regulations that may affect them. Our tax preparation services include the preparation and filing of tax returns for individuals, businesses, and other entities. We can assist you in identifying all eligible deductions, credits, and exemptions to minimize your tax liability and ensure timely and accurate filing of tax returns. In summary, our proactive tax planning and preparation services can help you minimize your tax liability, avoid any penalties or interest, and stay compliant with Qatari tax regulations.
Can you help with internal control and risk management?Yes, Morison Qatar can assist with internal control and risk management. We provide a range of services including internal audit, internal audit quality assurance, and risk management. Our team of professionals can help you assess the effectiveness of your current internal controls and identify potential areas of risk in your business. We can then work with you to develop and implement strategies to mitigate these risks and strengthen your internal controls. Our approach to internal control and risk management is proactive, meaning that we strive to identify and address potential issues before they become significant problems.
How do you ensure data privacy and security?Ensuring data privacy and security is crucial for any organization. At Morison Qatar, we have a robust system in place to ensure that your data is protected at all times. To ensure data privacy, we implement strict access controls and procedures to limit access to sensitive data only to authorized personnel. We also regularly conduct security audits to identify vulnerabilities and implement appropriate controls to mitigate any risks. Additionally, we follow international data privacy standards such as GDPR (General Data Protection Regulation) and ISO 27001 to ensure that all data is collected, processed, and stored in compliance with relevant regulations and standards. We also use advanced technologies such as encryption, firewalls, and intrusion detection systems to safeguard your data against unauthorized access, hacking, and other security threats.
What are the tax implications of expanding my business overseas?Expanding a Qatari business overseas can have significant tax implications. The tax laws and regulations in foreign countries may differ from those in Qatar, leading to potential tax risks and compliance issues. Here are a few key tax considerations to keep in mind when expanding a Qatari business overseas: Tax residency: When a Qatari business expands overseas, it may become subject to tax residency in the foreign country, which can trigger a tax liability on its global income. Permanent establishment: A Qatari business that establishes a permanent establishment in a foreign country may be subject to tax on its income earned in that country. Transfer pricing: If a Qatari business has intercompany transactions with its overseas operations, it must comply with transfer pricing regulations to avoid tax disputes and penalties. Withholding taxes: A Qatari business that pays dividends, royalties, or interest to a foreign entity may be subject to withholding taxes, which can impact the cash flow of the business. Double taxation: If a Qatari business is taxed on the same income in Qatar and a foreign country, it may be subject to double taxation. To avoid this, the business must rely on double taxation agreements or tax treaties between Qatar and the foreign country. In summary, expanding a Qatari business overseas can have significant tax implications. It is important to consult with tax professionals who can provide guidance on local tax laws and regulations, and help you structure your operations in a tax-efficient manner.
Can you help with business valuations and due diligence?Yes, Morison Qatar can help with business valuations and due diligence. Our team of experienced professionals can assist in determining the value of your business and provide comprehensive due diligence services to ensure that your business transactions are informed and efficient. We use proven methodologies and tools to provide accurate valuations and thorough due diligence analysis, which can help you make informed decisions and mitigate risks. Our services can be tailored to meet your specific needs and requirements, whether you are looking to acquire a business, sell a business, or conduct a strategic review.
How can you help with the process of company incorporation in Qatar?As a professional audit and advisory firm in Qatar, Morison Qatar can assist with the process of company incorporation in Qatar in several ways: Providing guidance on the legal and regulatory requirements for incorporation, including company structure, shareholder requirements, and documentation required for the application. Assisting with the preparation of incorporation documents, including the memorandum of association and articles of association. Facilitating the registration of the company with the appropriate authorities, such as the Ministry of Commerce and Industry and the Qatar Financial Centre. Providing ongoing compliance support to ensure that the company remains in good standing with the authorities. Advising on tax and accounting matters related to incorporation, including VAT registration and compliance. By leveraging our expertise and knowledge of the local business environment, Morison Qatar can help streamline the process of company incorporation in Qatar, allowing businesses to focus on their core operations and growth.
How can you help with business restructuring and turnaround?Morison Qatar can assist with business restructuring and turnaround by conducting a thorough analysis of the company's financial position and operations. Our team can identify areas of inefficiency and suggest restructuring strategies to optimize performance, reduce costs, and improve profitability. We can also assist with the development of a turnaround plan, including a detailed roadmap for implementing changes and monitoring progress. Our experienced professionals can help negotiate with stakeholders, provide guidance on legal and regulatory issues, and offer ongoing support to ensure the success of the turnaround plan. Additionally, we can provide expert advice on debt restructuring and refinancing, asset sales, and mergers and acquisitions to help companies overcome financial challenges and achieve long-term success.
How can you assist with financial reporting and analysis?Morison Qatar can assist with financial reporting and analysis by providing a comprehensive suite of assurance services that includes audits, reviews, and agreed-upon procedures to ensure the accuracy and completeness of financial statements. We also offer advisory services to help clients optimize their financial reporting processes and improve their financial performance. Our team of experienced professionals has the expertise to perform detailed financial analysis, including ratio analysis, trend analysis, and industry benchmarking, to provide insights into the financial health of the organization. Additionally, we can assist with the preparation of financial reports and presentations that meet the regulatory and stakeholder requirements.
Kevin Paul Kurian
Throughout his career, Kevin has been involved in various accomplishments that have contributed to the success of the firm. He played a significant role in leading the audit of a listed entity, performed a corporate governance review, and assisted the entity in its transition to IFRS 16, the new income tax law, and the new corporate governance code.
In addition to his audit responsibilities, Kevin is passionate about creating the greatest stories ever told and is the co-founder and executive director of Buffbaer, a media and entertainment company.