Article 17 - Accounting Period
Accounting Period of a QFC Entity shall begin for the purposes of corporation tax whenever—
QFC Entity, not then being within the charge to tax under these Regulations, comes within it by commencing activities within the terms of its QFC Licence; or
Accounting Period of the QFC Entity ends without it then ceasing to be within the charge to tax under these Regulations.
(2) Subject to Article 17(3), an
Accounting Period of a QFC Entity shall end for the purposes of corporation tax on the first occurrence of any of the following—
(a) the expiration of 12 months from the beginning of the
(b) the date to which the
QFC Entity makes up its accounts;
QFC Entity ceasing to have any source of income within the terms of its QFC Licence;
QFC Entity becoming Resident in Qatar; or
(e) the occurrence of one or more of the events mentioned in Article 18(1).
Tax Rules may provide for an extension of the term of an Accounting Period (Tax 8).
|Amended (as from 18th June 2014)|