As per the current Qatar Tax Laws & Regulations all companies in Qatar including companies which are 100% owned  by Qatari or GCC Nationals must maintain proper books of accounts in compliance with the International Financial Reporting Standards (IFRS) following Qatar's Laws & Regulations.

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Therefore it is very important for your company to engage a certified accounting expert having thorough knowledge and experience in implementing accounting standards of IFRS, Commercial Laws, Tax Laws, Labor Laws, AML Laws and other relevant regulations to ensure the legal compliance of your business activities, operations and financials.

 

Failure to comply with the above laws will be subject to hefty penalties from the concerned authorities. 

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Aside from the obligations, keeping good records is an essential part of running a successful business. When good records are kept the business owner knows at any given time, how much is owed from customers, how much is owed to suppliers, how profitable the business is and how much cash is available. This means better decision making can be made and improve the profitability of the company.