Zakat Tax

Kuwaiti public and closed shareholding companies are required to pay Zakat Tax at 1% of net profit for the year, which is payable to the Ministry of Finance pursuant to Law No. 46 of 2006 concerning Zakat and contributions by public and closed shareholding companies to the State budget.

Kreston Zakat services are as follows:

Certification of Zakat Tax Financial Declaration.

Companies regulated by the Law shall file the financial declaration as audited by an audit firm, which is registered with Tax Department, not later than the fifteenth day of the fourth month following the end of the reporting period.

Kreston provides advisory services pertaining to tax objections and appeals against decisions made by Ministry of Finance, if any.