Qatar’s Ministry of Commerce and Industry (MoCI) has introduced a new directive aimed at enhancing market oversight.
The new mandate requires all factory owners and commercial establishments, regardless of their sector, to establish electronic integration with the ministry’s systems. This will enable businesses to record and report their inventory, sales, and services.
This move aims to improve market oversight by requiring businesses to record and report inventory, sales, and services, strengthening the country’s electronic monitoring framework.
Furthermore, the initiative is part of Qatar’s efforts to strengthen its electronic monitoring framework and ensure more efficient regulation across various industries.
According to the statement, the required procedures include linking systems with the ministry through the transfer of transaction data from Enterprise Resource Planning (ERP) systems or their equivalent, in addition to continuously recording inventory quantities and updating the required data immediately upon any change.
Under the new circular, businesses that fail to establish electronic integration with the Ministry of Commerce and Industry (MoCI), manipulate records or documents, whether in paper or electronic form, fail to provide the required documentation, or submit inaccurate data will be considered in violation of Qatar’s laws. Specifically, these actions are punishable under Law No. (12) of 1972, which governs compulsory pricing and profit determination, along with its subsequent amendments.
All factory owners and commercial establishments are urged to comply with the provisions of the circular to avoid legal action, with implementation effective from the date of issuance, as per the statement.
