BAM, AGPCA sign MoU to boost financial & Shari'ah auditing
Bait Al-Mashura Finance Consultations (BAM) and Ahmed Khaled Al-Ghanim & Partner Chartered Accountants (AGPCA) recently signed a memorandum of understanding (MoU) to coordinate within the fields of financial and Shari'ah auditing.
BAM Vice-Chairman Dr. Khalid al Sulayti said that the MoU is a part of BAM's endeavors towards improving its products and work mechanism besides extending the trucks of cooperation and coordination with distinct Qatari organizations, since the MoU aims at upgrading the audit operations in line with the international standards, as well as harmonising them with the Shari'ah based audit review standards and financial standards related to Islamic Financial Institutions.
AGPCA was selected to sign this MoU for being a Qatari organization and for being a new and distinct organisation which is working in the streams of accounting, audit review and finance consultancy as per the relevant high professional standards,
Startup weekend Doha 2018
As part of AGPCA's mission promoting entrepreneurship in Qatar. AGPCA participated in the Startup Weekend Doha 2018 event which was organized by Bedaya centers and sponsored by Qatar Development Bank (QDB) and other designated delegates.
The 3 days event was held in Tawar Mall on the 15th, 16th and 17th of November 2018. The event consisted of a combination of activities for entrepreneurs such as mentoring, judging and entertaining.
AGPCA participated through its managing partner-CEO Mr. Abdullah AL Dereai who was invited by Bedaya Centers to participate as a mentor for entrepreneurs.
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The rate of tax is 10% of a company’s Total State Income, paid annually. This fixed rate is only applicable on businesses and not on individuals’ incomes.
Typical business costs are deductible and losses can be rolled over for a period no longer than 3 years from the original accounting declaration.
“Commercial Activity” means any profession, vocation, service, trade, industry, speculation, contractual work or any profit & income making business. Rental income is subject also to a fixed tax rate of 10 %.
More in-depth information can be found in the Law No.21 of 2009 related to Income Tax.