Article 101 - Establishment of the Tax Department
Tax Department shall be established by the QFC Authority pursuant to Article 6 of the QFC Law.
Tax Department shall administer these Regulations and all aspects of QFC corporation tax.
Tax Department shall be managed by the Director of Tax who shall determine its procedure and management.
Tax Department shall be subject to the supervision of the QFC Authority which shall have the power and function to—
(a) ensure that the
Tax Department exercises its statutory powers and performs its statutory functions;
(b) review the performance of the
Tax Department and the use of its resources; and
(c) give the
Tax Department written directions as to the furtherance of any of its objectives or the performance of its functions.
Tax Department shall have the following functions, among others, as set forth in these Regulations—
(a) to investigate any contravention of, and to enforce, these Regulations and the
(b) to maintain relations with all
State authorities involved in matters addressed in these Regulations, to coordinate with such authorities in the implementation of these Regulations and any rules, policies or orders issued thereunder, to provide such authorities with any documents or materials to which they have a right under these Regulations and any applicable laws, rules or regulations of the State and to represent the QFC in dealings with such authorities; and
(c) all other functions provided for in these Regulations and the
Tax Rules considered by it to be necessary, desirable or appropriate to achieve, further or assist in relation to any of the above.
Tax Department may, at any time, of their own accord or on request from a QFC Entity, issue a concessionary statement of practice setting out that they will treat Persons as if they were entitled to—
(a) a reduction in a liability to tax;
(b) or any other concession relating to tax, to which they are not, or may not be, entitled in accordance with these Regulations.
(7) A concessionary statement of practice as described in Article 101(6) is binding on the
Tax Department until it is revoked by the Tax Department.
Tax Department shall make concessionary statements of practice available to the public by such medium as they consider appropriate.
|Amended (as from 18th June 2014)|