Tax Services Firm

Tax Advisory helps structure your business for Reliability & peace of mind. Our goal is to minimize the impact of taxation on your wealth and transactions.

Let our experienced tax advisors handle your tax preparation while you manage your business entity in Kuwait

  • Tax Clearance

    All companies that are subject to tax laws applied in the State of Kuwait and were not registered with the tax administration must apply for registration before requesting the certificate Tax Clearance release of the impounded income certificate.

  • Zakat

    As per Kuwait Foundation for the Advancement of Sciences (KFAS), all Kuwaiti shareholding companies are required to pay 1% of their net profits as per their financial statements, after transfer to the statutory reserve and the offset of losses carried forward, to the KFAS, which supports scientific progress.

  • Corporate Tax

    Companies are residents in Kuwait if it earns income from Kuwait, directly or indirectly & would be subject to tax. In addition, any foreign corporate body that is a shareholder in a Kuwaiti limited liability company would be subject to tax to the extent of the foreign ownership , GCC entities wholly owned by GCC residents are treated in the same manner as Kuwaiti business entities. All incomes earned from activities in Kuwait (Foreign companies) should be subject to tax in Kuwait. The Tax current rate in Kuwait is a flat rate of 15%. The Tax Department obliges Kuwaiti companies to make a mandatory deduction of 5% as tax retention requirement on transactions with foreign companies for the work carried out inside Kuwait. Foreign companies carrying on trade or business in the offshore area of the partitioned neutral zone under the control and administration of Saudi Arabia are only subject to tax in Kuwait on 50% of their taxable profit under the law.

Let our experienced tax advisors handle your tax preparation while you manage your business entity in Kuwait

 

Here are the frequently asked queries on the Tax services provided by Alkhuzam & Co. 

Here's what you need: copies of Civil ID, Company License, Commercial Registration & Authorized Signatory, Company Foundation Contract (& most recent amendments), Contract Concluded (for individuals), Passport & original Letter of Request for License Issuance (for individuals).

1- Gather documents & fill service application forms. 2- Submit documents & forms to Ministry of Finance (General Registration Department). 3- Receive Clearance Certificate from the Certificate Issuance Department.

1 - Audited balance sheet and profit-and-loss account for the period. 2- Detailed list of fixed assets (ex.: additions, disposals). 3 - List of inventory (ex.: quantities and values). 4- List of subcontractors and the latest payments to them. 5 - Copies of current contracts and a statement of income and expenditure for each. 6 - Trial balance, forming the basis of the accounts. 7 - Last payment certificate from the client. 8 - Insurance companies must attach to the Public Budget and the tax declaration - a detailed statement with the reinsured documents and the related terms and conditions.