Audit and accounting for retail and trading companies in Qatar
Thiqa Consulting provides audit, tax and accounting for retail and trading companies in Qatar: books and stock records kept every month, the yearly audit, the corporate income tax return and turnover certificates for landlords. We agree the scope, responsibilities and fee before work starts. Tell us about your shops or trading lines and we suggest where to start.
- Stock you can trustCounts and costs that match the books
- Fixed feeAgreed in writing before we start
- Month-end on timeSales, purchases and banks reconciled
- Clear guidanceWhat applies to you, and why
A hypermarket aisle in Doha with shelves of packaged goods and promotion signs
What retail and trading companies usually deal with
Trading businesses move a lot of stock and handle many small transactions. These are the issues that come up most in the sector.
Stock that does not match
Counts in the store or warehouse differ from the system, and slow or damaged stock is not written down.
High volume of sales
Cash, card and online sales across several outlets have to be reconciled with the bank every month.
Imports and suppliers abroad
Freight, customs and foreign suppliers add costs that must be included in the cost of stock.
Rent tied to sales
Landlords ask for certified turnover figures when the rent depends on the shop’s sales.
Accounts for banks and suppliers
Banks and large suppliers ask for audited accounts before giving credit lines or terms.
Cash handling and controls
Many staff handle cash and stock, so simple controls matter to prevent losses.
How we help a retail or trading company
Most trading companies need the same few services. Start with whichever is most urgent.
- 1Accounting and bookkeepingBooks kept every month, with sales and banks reconciled.View service
- 2Accounting system setupAn accounting and stock system set up to match how you trade.View service
- 3External auditThe yearly audit, including stock counts and costing.View service
- 4Corporate income tax returnThe yearly corporate income tax return on Dhareeba.View service
- 5Special purpose auditTurnover certificates when a landlord asks for them.View service
- 6Internal controls and risk advisoryControls over cash, stock and purchasing to reduce losses.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 stock is where errors hide
For a trading company, stock is often the largest figure in the accounts. If counts are wrong, costs are missing or old stock is not written down, the profit for the year is wrong too.
We help you count, cost and value stock in the same way each year, and connect the stock records to the books. That gives you reliable margins and makes the audit faster.
- Regular stock counts
- Freight and duty in the cost
- Slow and damaged stock reviewed
- Accounts ready for the audit
How we work with a trading company
- 1
A short first call
You tell us about your outlets and how you trade. 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
Monthly close
Sales, purchases, stock and banks reconciled every month.
- 4
Audit and return on time
Year-end stock count, the audit 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 retail and trading companies ask us
Short answers. Open a question to read the answer.
Does a trading company in Qatar need an audit?
Often, yes. The General Tax Authority’s rules require audited accounts with the tax return above set limits on capital and income, and banks and suppliers often ask for them too. For a trading company, the audit focuses on stock and sales, so a reliable year-end count and clear records of stock held at each branch or warehouse make it much quicker. Tell us about your company and we confirm what applies.
How should stock be valued in the accounts?
Under IAS 2, stock is measured at the lower of cost and net realisable value. Cost includes the purchase price and costs such as freight and import duty to bring the goods to their current place. Old, slow or damaged stock is written down when it will sell for less than it cost.
How should supplier rebates and discounts be recorded?
Trade discounts and rebates reduce the cost of the stock they relate to. Under IAS 2, they are deducted from the purchase cost, so a rebate on goods still on the shelves lowers the stock value, and one on goods already sold lowers the cost of sales. Keep the supplier agreements and track rebates as they are earned, not only when they are paid.
Do we withhold tax when we pay foreign suppliers for goods?
Usually not. Payments for goods are generally not in scope, but fees for services, commissions and royalties paid to non-residents can carry a 5% withholding tax where the activity is not connected to a permanent establishment in Qatar. Contracts that mix goods and services need a closer look. We review your payments abroad and tell you which need withholding.
Do you attend our year-end stock count?
Yes. When we audit your accounts, we plan and attend the stock count with you, or review the count you carry out. When we keep your books, we help you plan the count and record the results so the stock in the accounts matches what is on the shelves.
Tax answers checked against the General Tax Authority’s published texts on 13 October 2026. General Tax Authority
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.