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(MENAFN - The Peninsula) Lani Rose R Dizon / The Peninsula Businesses in Qatar have been urged to prepare for the expected implementation of value added tax (VAT) in the country. Experts from global consulting firm PwC Middle East who spoke at a webinar hosted by the Chartered Accountants of Sri Lanka in Qatar, recently, said business organisations across Qatar need to conduct VAT impact assessment even before the government issues the final legislation. The PwC experts also stressed that Qatar is now VAT ready in terms of the country s legislation and system readiness. Qatar has started preparing for the VAT implementation back in 2016, around the same time the country has signed the GCC VAT framework. In terms of readiness, Qatar is ready when it comes to regulations, (IT) system readiness, and the General Tax Authority s (GTA) ability to have a team on the ground to deal with tax payers, said Rania Ibrahim, Manager for Tax and Legal Services at PwC Middle East. ....
17 Feb 2021 - 8:53 File photo used for representation only. Lani Rose R Dizon / The Peninsula Businesses in Qatar have been urged to prepare for the expected implementation of value added tax (VAT) in the country. Experts from global consulting firm PwC Middle East who spoke at a webinar hosted by the Chartered Accountants of Sri Lanka in Qatar, recently, said business organisations across Qatar need to conduct VAT impact assessment even before the government issues the final legislation. The PwC experts also stressed that Qatar is now VAT ready in terms of the country’s legislation and system readiness. “Qatar has started preparing for the VAT implementation back in 2016, around the same time the country has signed the GCC VAT framework. In terms of readiness, Qatar is ready when it comes to regulations, (IT) system readiness, and the General Tax Authority’s (GTA) ability to have a team on the ground to deal with tax payers,” said Rania Ibrahim, Manag ....