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Posted On: 15 April 2020 10:19 am
Updated On: 15 April 2020 10:21 am

Qatar Financial Centre announces new support measures to offer support to 900 plus firms

Khadiza Begum
Khadiza Begum
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Qatar

Qatar Financial Centre has announced new support measures to offer relief to 900 plus firms. The measures come in line with recent actions taken by Qatar and its entities to provide support to the nation's economy and private sector in light of business risks posed by COVID-19.

The measures come in line with the recent actions taken by Qatar and the various state entities to provide support to the nation’s economy and private sector in light of the business risks posed by the coronavirus disease (Covid-19).

"The significant national economic measures, directives and stimulus, which were introduced to mitigate the negative impacts of the unprecedented global circumstances surrounding Covid-19, showcase Qatar’s commitment and support of its private sector in alleviating financial burdens and ensuring the continuity of business. The QFC sees it imperative to complement national measures and remains committed to offer its own relief and continued support to QFC firms during this crisis,” said Yousuf Mohamed al-Jaida, QFC Authority chief executive.

Affirming its ongoing commitment to supporting the nation’s economic policies, the QFC said it would provide deadline extensions for tax filings due to the ongoing pandemic without incurring any late filing penalties, in addition to reducing the rate of the charge due on the late payment of tax (late payment charge) to 0% from March 1, 2020 to August 31, 2020.

In view of the pandemic, the QFC continues to offer full support to its firms, including a 24/7 multilingual call centre where clients can continue to relay their licensing and post-licensing queries, as well as other business servicing questions.