Dual Consultancy W.L.L

Dual Consultancy W.L.L Dual Consultancy, the professional firm of Qatar Origin, providing audit, accounting, tax preparation, tax consulting and other connected services

Dual Consultancy, the professional firm of Qatar Origin, providing audit, accounting, tax preparation, tax consulting and other connected services to a wide range of industries and entities. We serve growth-oriented, owner-managed businesses with expanding international requirements, governments, institutions, nonprofit organizations. We are organized by industry practices rather than geographic r

egion, this industry-led operational model enables us to deliver the best-aligned and highest quality services to our unique client portfolio. We have a select team of dedicated professional staff providing a wide variety of accounting, tax and management consulting services.

10/08/2016

About 60% of the stocks witnessed gains but Qatar Stock Exchange fell marginally on Tuesday.
Selling pressure of local and Gulf retail investors largely led the 20-stock Qatar Index shed 2 points to 10,918.53 amid higher trading turnover and volumes.
However, foreign and Gulf institutions were increasingly bullish in the market, which is up 4.69% year-to-date.
Profit booking was seen at the banking, insurance, transport and telecom counters in the bourse, where banking, industrial and realty stocks constituted about 72% of the total trading volume.
Market capitalisation was however up 0.25% or more than QR1bn to QR586.49bn as mid, micro and small cap equities gained 1.62%, 0.61% and 0.16% respectively, while large caps fell 0.18%.
The Total Return Index was down 0.02% to 17,665.46 points, while Al Rayan Islamic Index gained 0.33% to 4,200.75 points and All Share Index by 0.24% to 3,015.16 points.
Banks and financial services stocks fell 0.34%, insurance (0.19%) and telecom and transport (0.01% each); whereas industrials soared 1.18%, real estate (0.72%) and consumer goods (0.1%).
Major losers included Qatar Islamic Bank, QNB, Masraf Al Rayan, Vodafone Qatar and Milaha; even as Commercial Bank, Doha Bank, al khaliji, Industries Qatar, Qatari Investors Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding, United Development Company, Barwa and Gulf Warehousing bucked the trend.
Local retail investors’ net buying rose substantially to QR77.6mn compared to QR8.36mn on August 8.
The GCC (Gulf Cooperation Council) retail investors’ net selling increased to QR24.17mn against QR7.75mn on Monday.
Non-Qatari individual investors’ net profit booking rose to QR11.6mn compared to QR11.47mn the previous day.
However, non-Qatari institutions’ net buying strengthened to QR101.43mn against QR71.9mn on August 8.
The GCC institutions’ net buying increased perceptibly to QR58.81mn compared to QR10.91mn on Monday.
Domestic institutions’ net profit booking weakened to QR46.86mn against QR55.24mn the previous day.
Total trade volume rose 16% to 13.53mn shares, value by 11% to QR565.99mn and deals by 20% to 6,472.
The banks and financial services sector saw 83% surge in trade volume to 5.08mn equities, 23% in value to QR203.28mn and 16% in deals to 2,203.
The consumer goods sector’s trade volume soared 80% to 0.72mn stocks and value more than doubled to QR46.69mn on 71% jump in transactions deals to 589.
There was 54% expansion in the transport sector’s trade volume to 1.03mn shares, 59% in value to QR39.17mn and 38% in transactions to 431.
The industrials sector’s trade volume grew 20% to 2.49mn equities, value by 1% to QR153.72mn and deals by 44% to 1,342.
However, the market witnessed 33% plunge in the telecom sector’s trade volume to 1.98mn stocks and 11% in value to QR66.88mn but on 6% rise in transactions to 894.
The real estate sector’s trade volume plummeted 21% to 2.11mn shares, value by 21% to QR48.79mn and deals by 3% to 897.
The insurance sector reported 8% decline in trade volume to 0.11mn equities, 4% in value to QR7.47mn and 22% in transactions to 116.
In the debt market, there was no trading of treasury bills and government bonds.

10/08/2016

By Dr R Seetharaman
On August 3, 2016, the Upper House of India’s Parliament voted unanimously in favour of the long-awaited GST bill. The lower house of Parliament also cleared the bill with amendments on Monday, and now it has to be adopted by more than 50% of states for formation of a GST council. Once 50% of states agree to the amendments, it will then be introduced in the winter session of Upper House of Parliament to finalise the GST taxation rate. We see higher chances of it getting accepted by the Upper House as there were no votes against the passage of the bill.
GST is a broad-based, single indirect tax, levied on goods and services across the country, GST will include most of central and state indirect taxes such as VAT, excise duty, service tax, central sales tax, additional customs duty and special customs duty.
GST is a mechanism to collect tax on value-added goods and services at each stage of sale or purchase in the supply chain. States have rejected the concept of a revenue-neutral rate. The Subramanian committee recommended that the standard rate should be at 18%.
The National Institute of Public Finance and Policy has recommended a rate between 23% and 25%. The opposition, especially the Congress party, does not want the rates to be notified through a Money bill, but by a Finance bill. The chief economic advisers-led panel report has recommended a standard GST rate to be 17%-18%.
GST is expected to improve overall efficiency in the allocation of resources and increasing the competitiveness of domestic production in the international markets. The goods and services are expected to witness lower prices once implemented, depending on a tax rate the government finalises. Transportation, logistics, warehousing and manufacturing companies will see positive benefits as there have been incidents of multiple taxation on each stage of production of goods and services. In the longer-run, we see GST improving the tax collection for the government, improving profitability for the manufacturing sector, driving the investment cycle and resulting in higher GDP growth. We also see this as a credit-positive move for the country’s current rating of BBB-.
Moody’s has said that Rajya Sabha’s approval to the constitutional amendment bill paves the way for the implementation of the goods and services tax (GST), and is a positive development for India’s credit rating. Moody’s, said in a statement it believes the impact of the GST will be positive for most corporate sectors across the value chain, spanning procurement of raw materials, manufacturing of goods, sales and distribution of finished goods and services, logistics, and warehousing of goods from manufacturing locations to end-customers.
India currently has a government which has the majority in the lower house. In the past, the Upper House had cleared FDI in insurance sector, Debt Recovery Tribunal bill, Mines and Mineral bill, coupled with government taking pro-active stance on approving lot of pending projects, improving e-governance and increasing outlay of government expenditure on rural sector.
We expect all the measures taken by the government to be accretive for GDP growth. IMF, in its April-2016 outlook, expects India to grow by 7.45% and 7.49% during 2016 and 2017 respectively. India benefits substantially on lower oil prices, the Oil bill has halved to $64bn in 2015-16 on import of 202mn tonnes of crude as compared to 189.4mn tonnes during 2014-15. The current passage of GST bill in the Upper House of Parliament will benefit the country in the longer-term.

16/04/2016

Rental tax in UAE introduced
The three percent fee will be added to all rents secured by foreign workers as part of a new municipality fee.

According to The National, the charge, which was approved in February and already in operations, will be added to monthly utility bills, rather than be introduced as something new to pay.

The announcement brings the capital in line with Dubai where already a five percent municipality tax is paid on utility bills, and is the second such piece of news this week following confirmation that a four percent tax is to be added to the cost of hotel stays in Abu Dhabi.

Just over four million guests stayed in the UAE capital’s hotels last year, staying over 12 million nights. The National estimated the potential revenue from the new fees, based on those figures, at $122 million.

Meanwhile in Dubai, an airport usage charge for all passengers of Dhs35 was introduced.

These steps are part of a growing trend in the GCC to incorporate a region-wide value-added tax (VAT) over the medium term to lift non-oil revenues.

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