Article 125 - Notice to Produce Documents and Information

(1) Where the Tax Department has given a notice of enquiry to a QFC Entity under Article 121(1), they may by notice require the QFC Entity
(a) to produce to them such documents as are in the QFC Entity's power or possession; and
(b) to provide them with such information, in such form, as they may reasonably require for the purposes of the enquiry.
(2) A notice under this Article must specify the time within which the QFC Entity is to comply with it.
(3) The Tax Department may take copies of, or make extracts from, any documents produced to them under this Article.
(4) An appeal may be made against a requirement imposed by a notice under this Article to produce information or provide documents.
(5) Where an appeal under this Article is heard by The Regulatory Tribunal, that tribunal—
(a) shall set aside the notice so far as it requires the production of documents, or the provision of information, which appears to them as not reasonably required for the purposes of the enquiry; and
(b) shall confirm the notice so far as it requires the production of documents, or the provision of information, which appears to them as reasonably required for the purposes of the enquiry.
(6) A notice confirmed by The Regulatory Tribunal (or in so far as it is confirmed) has effect as if the period specified in it for complying was 30 days from the determination of the appeal.
(7) The decision of The Regulatory Tribunal on an appeal under this Article is final and binding.
(8) A QFC Entity which fails to comply with a notice to produce documents or information under this Article is liable—
(a) to a financial sanction of QR 1,000; and
(b) if the failure continues after a financial sanction is imposed under Article 125(8)(a), to a further financial sanction or financial sanctions not exceeding QR 1,000 for each day on which the failure continues.
(9) No financial sanction shall be imposed under Article 125(8) in respect of a failure at any time after the failure has been rectified.
Amended (as from 18th June 2014)