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February 2015


International Correspondents


Tax Relief

Special Features

News Analysis




  • Sponsored by Akin Gump Strauss Hauer & Feld
    Akin Gump's Christopher Leonard, Ezra Zahabi and Chris Poon on how Esma’s long-awaited technical advice on the directive moves the EU one step closer to a single regulatory framework
  • Sponsored by Al Tamimi & Company
    Rafiq Jaffer Factoring is a financing technique that enables an exporter to collect the purchase price of the goods relating to an export transaction before the due date of payment. Typically, banks in Qatar act as factors and purchase receivables relating to the export transaction. The same technique is also used for financing contractors and sub-contractors, where works have been performed or goods and services have been supplied and payment under the corresponding invoice is payable after a period of time (such as 90 days). This latter technique is referred to as invoice discounting. One key commercial consideration for companies seeking to sell their receivables is for the receivables to be removed from their balance sheet as a debt and to appear as revenue that has been collected. This treatment is possible if the receivables are sold on a without-recourse basis. Auditors usually require a legal opinion to confirm that a true sale of the receivables has been effected.