Qatar- National Day/ Ministry of Finance…Promoting Financial Efficiency
(MENAFN – Qatar News Agency) The Ministry of Finance attain several achievements during the past year, most notably the issuance of Law No. 2 of 2015 on the financial system of the State, which included provisions for preparing and implementing the general budget and the final account of the State.
According to the law, the State’s fiscal year timing is beginning on January 1 and ending on December 31 of each year.
In terms of legislations, the ministry issued the Regulations of Government Tender and Procurement Law which came to improve procurement policies and set standards for tenders and to conclude contracts and manage the performance of suppliers as well as to establish a list of implementation and achieve the principles of justice, equality, equal opportunities and transparency.
Among the most prominent achievements of the Ministry of Finance over the past year is the adoption and implementation of the strategic plan of the Miniry, the Foreign Account Tax Compliance Act (FATCA) agreement, the Avoidance of Double Taxation agreement, Swift London agreement and the preparation of the medium-term fiscal framework (MTFF).
The Finance Ministry is keen to develop human capacity through the integrated use of training and career development programs for its staff skills. In this regard, Human Resources Department prepared specialized programs in order to provide the trainee with skills and knowledge according to his needs in the areas of employment.
The Ministry of Finance has launched its website on the Internet, which contains the latest statistics, budget data, the latest news, circulars and press-releases and the most important upcoming projects and events of the ministry, in addition to the electronic services.
Regarding the development projects in the ministry, Qatar National Vision 2030 is considered the main umbrella for all development projects in the state.