1 / 4

Tax in Kuwait

Tax services are a significant part of what accounting firms offer. They assist clients in navigating complex tax laws, optimizing tax strategies, and preparing accurate tax returns.

jeenu1
Download Presentation

Tax in Kuwait

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ACCOUNTING SERVICES IN KUWAIT Accounting firms offer a wide range of services, including auditing, tax planning and compliance, financial advisory, management consulting, and more. Auditing services involve examining financial statements and records to provide assurance about their accuracy and compliance with accounting standards. https://www.bdo.com.kw/en-gb/services/

  2. WHAT IS THE CURRENT TAX SYSTEM IN KUWAIT? 1. No Personal Income Tax: Kuwait did not impose personal income tax on the earnings of individuals, including both residents and non-residents. This absence of personal income tax has been a notable feature of Kuwait's tax system. No Corporate Income Tax: Kuwait tax traditionally did not levy corporate income tax on businesses, contributing to its reputation as a tax-friendly destination for companies. Value Added Tax (VAT): As of my last update, Kuwait had not implemented a Value Added Tax (VAT) system. However, discussions were ongoing within the Gulf Cooperation Council (GCC) about introducing VAT, and Kuwait was considering the possibility of implementing VAT in Kuwait the future 2. 3.

  3. What types of accounting and financial services does your firm offer in Kuwait? 1. Audit and Assurance Services: External Audit firm in Kuwait of financial statements for businesses to ensure compliance with accounting standards and regulations. Internal audit consulting services to evaluate and enhance internal controls, risk management, and operational efficiency. Tax Services: Tax planning and advisory services for individuals and businesses to optimize tax strategies and minimize tax liabilities. Preparation and filing of tax returns, including income tax, corporate tax, and potential Value Added Tax (VAT) in the future. Accounting and Bookkeeping: Maintenance of financial records, ledger entries, and financial statement preparation. Financial reporting services to provide insights into a company's financial health. 2. 3.

  4. CONTACT US BDO Al Nisf & Partners Al Shaheed Tower, 6th Floor Khaled Ben Al-Waleed Street, Sharq, Kuwait Phone: +965 22426999 Fax : +965 22401666 E-mail: contact@bdo.com.kw

More Related