Document background
The Credit Note Policy serves as a crucial internal control document for organizations operating in Qatar, establishing standardized procedures for managing credit note processes in compliance with local regulations. This policy becomes necessary when organizations need to ensure consistent handling of credit notes, maintain proper documentation for tax purposes, and establish clear approval hierarchies. The document incorporates requirements from Qatar's Tax Law No. 24 of 2018, Commercial Law No. 27 of 2006, and relevant financial regulations, providing comprehensive guidance for staff involved in credit note processing. It includes specific procedures for different scenarios, value thresholds, and documentation requirements, ensuring that all credit notes issued align with both internal control requirements and external regulatory obligations.
