Audit and accounting for oil and gas contractors in Qatar
Thiqa Consulting provides audit, tax and accounting for contractors and suppliers to the oil and gas sector in Qatar: the yearly audit, preparation for ICV certification, the corporate income tax return and withholding tax on foreign subcontractors. We agree the scope, responsibilities and fee before work starts. Tell us about your contracts and we suggest where to start.
- ICV preparationFigures ready for your certifier
- Fixed feeAgreed in writing before we start
- Tender-ready accountsAudited figures when a client asks
- Clear guidanceWhat applies to you, and why
The Ras Laffan LNG terminal on the coast of Qatar, with gas flares
What oil and gas contractors usually deal with
Suppliers to the energy sector work on long contracts with strict clients. These are the issues that come up most.
ICV scores for tenders
An In-Country Value score is needed to bid, and the figures behind it must be audited and organised.
Audited accounts on time
Clients and the ICV process rely on audited financial statements, so the audit cannot run late.
Foreign partners and subcontractors
Payments to specialists and companies abroad can bring withholding tax that must be handled monthly.
Contract and project costs
Costs for each contract must be tracked to see the margin and support claims and variations.
Tax on group arrangements
Charges between Qatar companies and foreign group members need clear support for tax.
Joint ventures
Work done with partners in joint ventures needs its own records and clear sharing of costs.
How we help an oil and gas contractor
Most contractors to the sector need the same few services. Start with whichever is most urgent.
- 1External auditThe yearly audit, finished in time for tenders and ICV.View service
- 2ICV certificationFigures prepared before your Tawteen-approved certifier checks them.View service
- 3Corporate income tax returnThe yearly corporate income tax return on Dhareeba.View service
- 4Withholding taxWithholding tax on payments to subcontractors and specialists abroad.View service
- 5Transfer pricingSupport for charges between group companies inside and outside Qatar.View service
- 6Accounting and bookkeepingBooks kept every month with costs coded to each contract.View service
We agree each engagement separately. If we keep your books or prepare your accounts, a different firm must audit them. Audit work also depends on the registrations required for your company.
Why ICV starts with the accounts
Under QatarEnergy’s Tawteen programme, a supplier’s ICV score is worked out from its costs and checked by a prequalified certifier. The score depends on how costs are recorded and supported in the audited accounts.
We help you organise the figures and the documents before the certifier starts, so questions are answered early. We prepare suppliers for certification. We do not issue ICV certificates ourselves.
- Audited accounts on time
- Local and foreign costs clearly split
- Documents ready for the certifier
- The same method each year
How we work with a contractor
- 1
A short first call
You tell us about your contracts and tender plans. We tell you what applies.
- 2
Fixed fee in writing
A written proposal with what we do, what we need from you and the price.
- 3
Records through the year
Costs, payments abroad and contracts kept up month by month.
- 4
Audit, ICV and return
The audit, ICV preparation and the tax return, planned together.
Get expert advice for your business
Tell us what you need. We reply with a written proposal covering the scope, the documents we need and the timeline.
Questions oil and gas contractors ask us
Short answers. Open a question to read the answer.
Does an oil and gas contractor need audited accounts?
Usually, yes. The General Tax Authority’s rules require audited accounts with the tax return above set limits on capital and income, and energy sector clients rely on them too. For a contractor, the audited accounts also feed ICV certification and tender submissions, so the audit needs to finish in good time. Tell us about your company and we confirm what applies.
When should we start preparing for ICV certification?
When you plan your yearly audit. Tawteen’s ICV portal says certification is based on the latest audited financial statements and that suppliers should get a new certificate every year, so the audit timetable drives the ICV timetable. We prepare the figures and documents before your Tawteen-approved certifier checks them. We do not issue certificates or calculate the official score.
Is withholding tax due on payments to foreign subcontractors?
It can be. Qatar applies a 5% withholding tax to certain payments to non-residents, including fees for services, where the activity is not connected to a permanent establishment in Qatar. No tax is withheld on payments to suppliers holding a Qatar tax card. We review your payments abroad and tell you which are in scope.
How is revenue on a long-term service contract recognised?
Usually over time, as the service is delivered. Under IFRS 15, revenue on maintenance, manpower or support contracts that run for months or years is recognised as the work is done, not when invoices are raised or cash arrives. An upfront mobilisation fee may need to be spread over the contract. We review your main contracts with you before the accounts are prepared.
Can you help us prepare for an Energy Sector tender?
Yes, on the finance side. We keep your accounts ready for the audit and prepare the financial information a tender pack asks for, such as recent accounts, cash flow forecasts or project figures. We plan the year end around the tender dates so nothing is late. The tender decision stays with the client. Tell us the closing date and what the pack requires.
Tax and ICV answers checked against the General Tax Authority’s published texts and Tawteen’s ICV portal on 13 October 2026. Tawteen ICV portal
Other industries and companies we work with
Tell us what you need. We reply with a written proposal.
You get the scope, the papers we need and the time it takes.
- 1You send your details by WhatsApp or email.
- 2We read them and ask anything we need to know.
- 3You get a written proposal: scope, papers and timing.