The National Assembly in Kuwait was given Value Added Tax (VAT) implementation mechanisms by the Ministry of Finance, which then had to decide whether or not to implement it. The Ministry of Finance will publish Executive Regulations of the Law and the procedures that firms must take in order to comply with the law if it is passed. For the purposes of Kuwaiti value-added tax, only businesses that operate within the State of Kuwait and fulfill minimum annual turnover criteria specified by law are required to register. Businesses in the State of Kuwait are now evaluating how the VAT would affect their operations.
Value-added tax (VAT) services that we offer:
- Produce a report detailing how the application of VAT would affect business entities’ operations, accounting systems, and business activities.
- Assist companies with the application of value added tax.
- Provide training to the companies’ employees regarding awareness about VAT nature and implications.
- Assurance report on compliance with VAT regulations.
