The CbCR notification and the CbCR should be submitted within 12 months as of the last day of the reporting financial period.
In our previous alert dated 23 December 2018 related to the Country by Country Report (“CbCR”) in Qatar, we had informed you the regarding the suspension of CbCR filing requirements for 2017 and the updated requirements of filing the notifications and CbCR for the financial year beginning on or after 1 January 2018.
On 16 June 2019 the General Tax Authority (“GTA”) in Qatar issued a circular, providing further updates and clarifications for the CbCR obligations in Qatar
Reporting period and due date
The notification and CbCR filing requirements are effective for the financial years beginning on or after 1 January 2018. The CbCR notification and the CbCR should be submitted within 12 months as of the last day of the reporting financial period.
Thus, for the financial year ending 31 December 2018, the due date will be 31 December 2019.
Entities obliged to submit CbCR
Entities meeting the following requirements are required to file the CbCR
Entities required to be included in the CbCR
The financial and business data of the following entities shall be covered in the CbCR
Entities not required to file CbCR
Any constituent entity resident in Qatar for tax purposes where the Ultimate Parent Entity is resident outside Qatar (non-Qatari Ultimate Parent), shall not be required to file the CbCR to the GTA until further notification, neither it will be required to submit a notification of the identity of the reporting entity or its place of residence.
CbCR content, submission method and penalties
How can we help you?
The CbCR reports should be prepared keeping in perspective the entire group operation, in various countries, as the GTA will automatically share the report with the authorities of the countries in which the MNE operates. Accordingly, it becomes critical for the reporting MNE to gather consistent and accurate CbCR data, analyze such data to review outliers and key trends and produce a robust CbCR with supporting narrative and assumptions.
We at KPMG in Qatar can help you in preparing your CbCR reporting and also reviewing and evaluating the data gathered for the group.
We welcome the opportunity to discuss your CbCR and notification filing requirements in Qatar.