With effect from 1 January 2020 transfer pricing regulations were issued by Qatar.
Under Article (8) of Decision No 4 of 2020, resident entities and permanent establishments of non-resident entities in Qatar must submit transfer pricing documentation in the form of master file and local file if they undertake cross-border related party transactions and have a turnover or total assets of more than Qatari Riyal 50,000,000 (approximately USD 14 million) in the financial year.
The General Tax Authority in Qatar has extended until 30 September 2021 the deadline for the filing of master files and local files for the fiscal year ending 31 December 2020, through Decision No (8) of 2021 issued on 17 June.
However there has been no change with regards to the filing of the disclosure form, which should have been submitted on the same day as the corporate annual income tax return, i.e., 30 April 2021. Resident entities and permanent establishments (PEs) in Qatar are required to submit a transfer pricing disclosure form where they have undertaken domestic or cross-border related party transactions and have a total turnover or total assets of more than QAR 10 million in the financial year.
The extension to the filing deadline provided in Decision No. 8 of 2021 is an exception to the provisions of article (8) of Decision No. 4 of 2020 that required certain taxpayers to submit the master file and local file by 30 June 2021.