Taxation and zakat play a crucial role in Kuwait’s economic landscape, and understanding and complying with these obligations are vital for financial well-being and legal compliance. However, the ever-evolving tax and zakat regulations can be complex and challenging to navigate. That’s where we come in.

Our team of experienced professionals possesses in-depth knowledge of Kuwait’s tax and zakat laws and regulations. We stay up-to-date with the latest developments to provide accurate and reliable advice tailored to your specific needs. Whether you’re an individual taxpayer or a business entity, we are committed to helping you optimize your tax position while ensuring compliance with all legal requirements.

Our tax and zakat services comprise of the following:

Income Tax Services

The State of Kuwait imposes a tax on income earned by the foreign companies operating in the State of Kuwait at 15% of the annual net profits. The Decree No (3) of 1955 as amended by Law No (2) of 2008 and its Executive Regulations regulates Kuwaiti income tax on foreign companies.

Tax Compliance – CRS

CRS Services are sought by financial institutions to comply with the requirements of the international agreements related to the exchange of information for tax purposes in force in the State of Kuwait. All financial institutions (FIs) operating in the State of Kuwait are required to comply with all requirements set forth in the Multilateral Competent Authority Agreement (“the MCAA”) which was signed between the State of Kuwait and Organization for Economic Development and Cooperation (OECD) to Improve International Tax Compliance and to Implement Common Standard for Reporting (CRS).

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.

Contact us for more information

Contact us directly for know more about our full range of services that suits your business needs!

At Dasman Audit, we recognize that each client is unique, and we approach every engagement with a personalized touch. We take the time to understand your specific circumstances, goals, and challenges to develop customized strategies that align with your objectives. Our goal is to provide you with comprehensive solutions that minimize your tax liability, maximize your savings, and ensure peace of mind.

With our Tax and Zakat services, you can expect:

  1. Expert Consultation: Our knowledgeable team of tax and zakat consultants will provide you with expert guidance, answering your queries and addressing your concerns every step of the way.

  2. Accurate Preparation and Filing: We handle all aspects of tax and zakat preparation and filing, ensuring accuracy, timeliness, and adherence to regulatory requirements.

  3. Strategic Planning: We develop proactive tax planning strategies to help you minimize your tax burden and optimize your financial position while staying fully compliant with the law.

  4. Compliance and Risk Management: Our thorough understanding of Kuwait’s tax and zakat regulations enables us to ensure your compliance and mitigate potential risks.

  5. Trust and Confidentiality: We value the trust our clients place in us. Confidentiality and the highest ethical standards are the cornerstones of our services.

Whether you are an individual seeking assistance with personal tax matters or a business looking for comprehensive tax and zakat support, Dasman Audit is here to help you navigate the complexities of Kuwait’s tax and zakat system.