Qatar

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Overall Phase 2 Rating is Largely Compliant

Table of Determinations and Ratings of the Combined Review

Jurisdictions should ensure that ownership and identity information for all relevant entities and arrangements is available to their competent authorities. (ToR A.1)
Determination Factors Recommendations
The element is in place.   There is no obligation requiring identification of beneficiaries with less than a 25% interest in those foreign trusts which have Qatari or QFC trustees or which are administered in Qatar or the QFC. The materiality of this gap is nonetheless very limited as the Qatari officials are not aware of a person in Qatar providing fiduciary services, and, during the period under review, Qatar did not receive any EOI requests for information on foreign trusts.   Qatar should ensure that AML obligated entities are required to identify all of the beneficiaries (or class of beneficiaries) of the trust as required under the standard. 
Phase 2 Rating Factors Recommendations
Compliant.     
Jurisdictions should ensure that reliable accounting records are kept for all relevant entities and arrangements. (ToR A.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Banking information should be available for all account-holders. (ToR A.3)
Determination Factors Recommendations
The element is in place.   Banks are required to identify natural persons who ultimately own or control a trust as part of their customer due diligence measures. However, they are not required to identify all of the natural persons who are beneficiaries of the trust as only the beneficiaries of 25% or more of the assets or property of a trust must be identified in all instances.   Qatar should ensure that banks are required to identify all of the beneficiaries (or class of beneficiaries) of the trust which has an account in Qatar and the QFC as required under the standard. 
Phase 2 Rating Factors Recommendations
Compliant.     
Competent authorities should have the power to obtain and provide information that is the subject of a request under an exchange of information arrangement from any person within their territorial jurisdiction who is in possession or control of such information (irrespective of any legal obligation on such person to maintain the secrecy of the information). (ToR B.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The rights and safeguards (e.g. notification, appeal rights) that apply to persons in the requested jurisdiction should be compatible with effective exchange of information. (ToR B.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
Exchange of information mechanisms should provide for effective exchange of information. (ToR C.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdictions' network of information exchange mechanisms should cover all relevant partners. (ToR C.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdictions' mechanisms for exchange of information should have adequate provisions to ensure the confidentiality of information received. (ToR C.3)
Determination Factors Recommendations
The element is in place.   Although all of Qatar's policies regarding confidentiality appear to be in place, two EOI requests that were received during the review period were misplaced within the EOI unit at the Tax Department. The same issue was reported in the 2013 Report.   Qatar should ensure that its organisational processes and procedures are adequate to ensure the confidentiality of all information received from an EOI partner.  
Phase 2 Rating Factors Recommendations
Compliant.     
The exchange of information mechanisms should respect the rights and safeguards of taxpayers and third parties. (ToR C.4)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
Compliant.     
The jurisdiction should provide information under its network of agreements in a timely manner. (ToR C.5)
Determination Factors Recommendations
The assessment team is not in a position to evaluate whether this element is in place, as it involves issues of practice that are dealt with in the Phase 2 review.   Qatar has experienced difficulties during the review period to answer EOI requests in a timely manner due to a variety of reasons relating to organisational issues within the EOI unit. As a result of these issues, several EOI requests were misplaced, including an EOI request that Qatar received in 2010.  Qatar should ensure that the organisational processes and level of resources committed to EOI purposes are adequate in order to answer EOI requests in a timely manner in all cases. 
Phase 2 Rating Factors Recommendations
Partially Compliant.     

Earlier self-assessment based annual reports entitled Tax Co-operation 2010: Towards a Level Playing Field are also available.