ICV Certification in Qatar (In-Country Value program)
Tawteen has launched an In-Country Value (ICV) program for its suppliers as part of localization of the support services industries for the energy sector in the State of Qatar. The In-Country Value is one of Tawteen Programs key elements as it is the mechanism to measure the local content contribution of suppliers and contractors.
All Suppliers for Tawteen Partner Companies are encouraged to calculate and declare thier ICV score for the previous financial year, to demonstrate how they are helping to deliver ICV. ICV scores need to certified by a Tawteen approved ICV certifiers, such as Kreston SVP Charted Accountants, on an annual basis
What does this mean for suppliers to Energy Sectors ?
All organizations that supply goods or services to the energy sectors – either directly, or indirectly via an intermediary supplier – will be required to provide an ICV Scorecard in their tender submission. The ICV certification plays a pivotal role in fostering a sustainable energy sector. By implementing a standardized evaluation process for each supplier, in-country value program ensures fairness and transparency in assessing their contributions to Qatar's economy.
ICV certification
ICV certification is the process of certifying a supplier's or contractor's ICV score by independent pre-approved ICV certifiers in Qatar. The goal of ICV certification is to assure the legitimacy and correctness of the information provided by suppliers in terms of ICV Contribution. This verifies that suppliers' ICV scores are evidence-based and determined in accordance with a pre-defined methodology. In order to ensure that suppliers’ ICV scores are evidence-based and calculated according to the Tawteen-defined methodology, certification is required. Tawteen has established a panel of independent certification bodies to confirm information submitted by suppliers under the program. . Read more.
Calculating the ICV score
ICV scores are calculated by assessing the economic value added within Qatar for the goods or services offered by the company, according to a pre-defined methodology. The following areas are taken into consideration:
- Spend on local goods and materials
- Spend on local services & white collar workforce salaries
- Cost of training offered
- Cost of supplier training and ICV certification programs
- Depreciation of Company assets in Qatar
Why Kreston SVP ?
Kreston SVP is an independent firm of Kreston International, the leading ICV certifier in Qatar with a track record of more than 300 ICV certifications so far. We are registered under Ministry of Commerce and Industry and approved as an auditor in QFC, QDB and QCB. Kreston International is 13th largest global network of independent accounting firms. We have over 200 firms in over 125 countries with more than 25,000 professionals. Our team of experienced professionals can guide the clients to the right direction for getting ICV certification in Qatar.
How We Can Help You ?
The process of obtaining ICV Certification requires extensive documentation, and Kreston SVP provides invaluable assistance, streamlining the lengthy procedures, and saving considerable time and cost. To discuss how Kreston SVP can support you with your ICV certification in Qatar, please contact us.
Email : icv@krestonsvp.com
Phone : +974 6668 8575 / 33163774