Minister of Finance and Economy Issues Executive Regulations of the Income Tax Law

Doha, June 14 (QNA) - The Executive Regulations of the Income Tax Law was issued by Resolution No. 10/2011 dated April 20, 2011 of HE the Minister of Economy and Finance Qatar Yousuf Hussein Kamal and published in the Official Gazette on June 1, 2011, according to an official source at the Ministry of Economy and Finance.
HE the Minister of Economy and Finance has also issued the Circular No.2 / 2011dated June 12, 2011 on the retention of the last payment and withholding tax, the source added.
This circular aims to simplify procedures of release of last payment made under contracts concluded with taxpayers, it said.
The last payment will now be released upon the presentation of a valid tax card issued by the Ministry's Public Revenues and Taxes Department without the need to issue a Non Objection Certificate or a Tax assessment decision, it added.
This procedure is not applicable to payments made to non-permanent branches of the companies in Qatar, it said.
The text of the Executive Regulations and the Circular are available in the Ministry's website (www.mof.gov.qa). (QNA)