Photo: Al Dafna view by Dr Killaser. Photo and cropped/resized versions: CC BY-SA 4.0.
A company licensed in the Qatar Financial Centre (QFC) works under its own rulebook. Its accounts, auditor and company filings follow the QFC Companies Regulations 2005, and its tax follows the QFC Tax Regulations. Neither runs through the Ministry of Commerce and Industry or the General Tax Authority’s Dhareeba portal.
Company filings go to the Companies Registration Office (CRO); tax goes to the QFC Tax Department.
This guide sets out the yearly cycle, who may audit a QFC company, the first-year traps, and how QFC tax differs from the tax mainland companies pay to the GTA, with the article behind each rule.
- Accounts audited
- Within 4 months
- CRO filing
- Within 21 days
- Tax return
- Within 6 months
- Law checked
- 16 October 2026
The short answer
In short
- A QFC LLC keeps proper accounting records for at least six years and prepares accounts in English under IFRS, UK GAAP or US GAAP (QFC Companies Regulations Articles 80 and 82).
- The accounts are audited by an auditor approved by the QFC Authority and laid before the members within four months of the year end, then filed with the CRO within 21 days of that meeting (Articles 82, 85 and 86).
- The company delivers an annual return made up to its incorporation anniversary (Article 47) and keeps a current register of beneficial owners (General Rule 8A).
- It registers with the QFC Tax Department, pays 10% on local source profits, and files and pays six months after the period end (QFC Tax Regulations Articles 9, 111 and 140).
Who does what: CRO, QFC Authority, QFCRA and the Tax Department
Four QFC bodies appear in the rules. Most QFC companies deal with three of them.
| Body | Role for a QFC company |
|---|---|
| Companies Registration Office (CRO) | Receives company filings: audited accounts, annual return, changes of directors or shareholders; keeps the register of approved auditors |
| QFC Authority | Licenses firms and approves auditors; its General Rule 8A sets the beneficial ownership duties |
| QFC Tax Department | Registers QFC entities for tax and receives tax returns and payments |
| QFC Regulatory Authority (QFCRA) | Regulates authorised firms, such as banks and insurers, which follow its rules as well |
For a company that is not an authorised firm, the audited accounts and the auditor’s report are filed with the CRO (Article 82(5)), not with the QFCRA.
The QFC company’s year, step by step
The table follows one financial year. Periods are counted from the year end unless stated.
| When | What | Source |
|---|---|---|
| Throughout the year | Keep accounting records and the registers of members, directors, transfers and allotments at the registered office | Companies Regulations Arts. 44, 79, 80 |
| Within 21 days of a change | File most changes of directors, secretary, registered office, share capital or shareholders with the CRO | qfc.qa post-registration compliance |
| Within 15 days of a change | Update the register of beneficial owners | General Rule 8A.10 |
| By the return date | Deliver the annual return, made up to the incorporation anniversary; a contravention if not delivered within 28 days after it | Companies Regulations Art. 47 |
| Within 4 months | Accounts prepared, approved, audited and laid before a meeting of members | Companies Regulations Art. 82(4) |
| Within 21 days of the meeting | File the accounts and auditor’s report with the CRO | Companies Regulations Art. 82(5) |
| Within 30 days of the CRO’s date | Annual beneficial owner report, when the CRO directs one | General Rule 8A.9; qfc.qa |
| Within 6 months | File the QFC tax return with a self-assessment | Tax Regulations Arts. 109, 111 |
| The day after 6 months | Pay the tax | Tax Regulations Art. 140 |
Extensions of company filing deadlines can be requested through the QFC Client Portal with third-party supporting documents and are reviewed case by case. For the 2027 dates, see the Qatar compliance calendar 2027.
The auditor: who may audit a QFC company
The auditor of a QFC LLC must be qualified to act in the QFC, approved by the QFC Authority and entered in the register of approved auditors kept by the CRO (Companies Regulations Article 85). To be approved, an auditor must be fit and proper, judged on qualifications, experience, professional body membership and resources, and hold professional indemnity insurance covering QFC work (Companies Rules 5.2).
The directors appoint the auditor for the first financial year, and after that the annual general meeting makes the appointment each year. The CRO must be notified within 21 days of the first appointment and of any later change (Article 86). Some people may not act at all: an officer or employee of the company or of an affiliated company, or the partner, employer or employee of such a person (Article 86(2)). If the auditor is removed or resigns, this is filed with the CRO within five days (Articles 86 and 88).
At the end of the audit, the auditor’s report states whether the accounts have been properly prepared under the Regulations and the chosen standards. It must also say so if proper records were not kept (Articles 89 and 90).
Approved auditors are listed on the QFC public register. How to choose an auditor in Qatar explains how to check a register. Mainland audit rules are different; see is an audit mandatory in Qatar.
Annual accounts: standards, language and the first long year
The directors prepare accounts for each financial year in English, giving a true and fair view, under IFRS, UK GAAP, US GAAP or other prescribed standards; at least one director approves and signs them (Companies Regulations Article 82). An authorised firm conducting Islamic financial business uses AAOIFI standards (Companies Rules 5.1.1). Our IFRS advisory service helps companies apply IFRS.
The first financial year runs from incorporation to the year end in the incorporation document, between six and 18 months later; later years are 12 months (Article 81). The tax rules differ: a tax accounting period ends after 12 months at the latest (QFC Tax Regulations Article 17). On a written application before the filing date, the Tax Department may extend the first period to no more than 18 months (Tax Rules 8.1.3 and 8.1.4).
A company limited by guarantee, an LLC(G), files its accounts within 21 days of approval at the general meeting, and the QFC states that they need not be audited.
QFC tax: registration, return and payment
- 1
Register
All QFC-licensed firms register with the QFC Tax Department through the QFC Client Portal after the licence is issued, whether or not they have started trading. The tax identification number does not expire.
- 2
Work out the profit
Tax is 10% of local source taxable profits, those arising in or derived from Qatar (QFC Tax Regulations Articles 9 and 10). Accounting profit comes from accounts under IFRS, UK GAAP, US GAAP or AAOIFI (Article 15).
- 3
File the return
A return with a self-assessment is filed for each accounting period within six months of its end (Articles 109, 111 and 112), with the information and accounts the Tax Department reasonably requires (Article 115).
- 4
Pay
Tax is due on the day after the six-month point, and late payment carries an additional charge from that day (Articles 140 and 143).
- 5
Correct if needed
A return may be amended within 12 months of the filing date (Article 116).
An extension may be requested in writing before the filing date for reasonable cause, up to 120 days in total; it does not move the payment date (Tax Rules 8.1). Tax records are kept for six years from the period end, or until an enquiry ends (Tax Rule 6.2); failing to keep them can lead to a sanction of up to QAR 20,000 (Article 108).
| Situation | Sanction |
|---|---|
| Filed within 60 days of the filing date | QAR 3,000 |
| Filed later | QAR 6,000 |
| Third consecutive late return | QAR 5,000 within 60 days, otherwise QAR 10,000 |
| Still not filed after 12 months | An added tax-related sanction: the higher of QAR 10,000 or 10% of unpaid tax within 18 months, then the higher of QAR 20,000 or 20% |
Our tax advisory service helps companies review their QFC tax position before filing.
How QFC tax differs from GTA tax
Mainland companies pay corporate tax to the GTA under the Income Tax Law. The table compares the two systems. Where the QFC rules we read are silent, we say so.
| Point | QFC tax | GTA income tax |
|---|---|---|
| Authority | QFC Tax Department, through the QFC Client Portal | General Tax Authority, through Dhareeba |
| Legal basis | QFC Tax Regulations | Income Tax Law and Executive Regulations |
| Rate | 10% of local source taxable profits (Art. 9) | 10% of taxable income (ITL Art. 9) |
| Qatari and GCC owners | No such exemption found in Part 2; check with the Tax Department | Their share of profits is exempt (ITL Art. 4; Regs Art. 2(14)) |
| Registration | After the licence, even before trading | Within 60 days (Regs Art. 25) |
| Return due | Six months after the period end (Art. 111) | Four months after the year end (Regs Art. 29) |
| Extension | Up to 120 days, asked before the filing date | Up to four months, asked at least 60 days before (Regs Art. 30) |
| Payment | The day after six months (Art. 140) | With the return (ITL Art. 20) |
| Audited accounts | Check with the Tax Department what must be attached | Required above set thresholds and for branches (Regs Art. 33) |
| Records | Six years (Tax Rule 6.2) | 10 years (Regs Art. 36) |
| Late return | QAR 3,000 or 6,000, then more (Art. 119) | QAR 500 a day, up to QAR 180,000 (ITL Art. 24) |
Payments made to persons registered with the QFC are not subject to GTA withholding tax (Executive Regulations Article 23); see withholding tax in Qatar. For the mainland side, see taxes in Qatar for companies and the corporate income tax return.
A year-end checklist for QFC companies
Before and after the year end
- Confirm that your auditor is on the QFC register of approved auditors.
- Book the members’ meeting inside the four-month window, and file with the CRO within 21 days of it.
- Diary the annual return date and keep the beneficial owner register current.
- File the tax return and pay by the six-month point; ask for any extension before the filing date.
- Keep at least six years of records.
For preparing the audit itself, see the audit preparation checklist. Our bookkeeping service helps keep the records the QFC rules require.
What to do next
Check your year end, your first tax period and your auditor’s registration first. Our page on QFC and free zone companies describes how we help with accounts and tax. To compare the QFC with other structures, see LLC, branch, QFC or free zone obligations. To discuss your needs, request a proposal.
Frequently asked questions
How do I check that an auditor is approved for QFC companies?
Search the QFC public register of approved auditors. The auditor of a QFC LLC must be approved by the QFC Authority and entered in the register kept by the CRO (Companies Regulations Article 85; Companies Rules 5.2).
When must a QFC company file its audited accounts?
The accounts are audited and laid before the members within four months of the year end, then filed with the CRO within 21 days of that meeting (QFC Companies Regulations Article 82(4) and (5)).
When is the QFC tax return due, and when is the tax paid?
The return is due six months after the end of the accounting period (QFC Tax Regulations Article 111), and the tax is due on the following day (Article 140). An extension of the filing date does not move the payment date.
Can we get more time to file the QFC tax return?
Yes, on a written application before the filing date showing reasonable cause. Extensions are limited to 120 days in total, and the payment date does not change (QFC Tax Rules 8.1.1, 8.1.2 and 8.1.5).
What happens if the QFC tax return is late?
The sanction is QAR 3,000 if the return is filed within 60 days of the filing date, otherwise QAR 6,000, with higher amounts for a third consecutive default and after 12 months. It may be set aside for reasonable excuse (QFC Tax Regulations Article 119).
Does a QFC company file on Dhareeba?
Not for QFC tax: a QFC company registers and files with the QFC Tax Department through the QFC Client Portal. Payments made to a QFC-registered firm are not subject to GTA withholding tax (Executive Regulations Article 23).
Our first financial year is 15 months. How many tax returns do we file?
A tax accounting period ends after 12 months at the latest (QFC Tax Regulations Article 17), so a 15-month year gives two periods, unless the Tax Department approves a longer first period of up to 18 months on a request made before the filing date (Tax Rules 8.1.3 and 8.1.4).
Sources
QFC rules
- QFC Companies Regulations 2005, accounts and auditors (QFC rulebook)
- QFCA Companies Rules (QFC rulebook)
- QFC Authority General Rule 8A, ultimate beneficial ownership (QFC rulebook)
- QFC Tax Regulations (QFC rulebook)
- QFC Tax Rules (QFC rulebook)
- Post-registration compliance (Qatar Financial Centre)
- Register for QFC tax (Qatar Financial Centre)
- Ongoing QFC tax requirements (Qatar Financial Centre)
- Licensing and filings (Qatar Financial Centre)
Mainland tax, for comparison
This article is general information, not legal or tax advice for your company. The QFC rules and pages cited were checked on 16 October 2026 and may change; authorised firms regulated by the QFCRA have further duties. Confirm deadlines in the QFC Client Portal. A firm that keeps your books cannot also audit them.