Value Added Tax – VAT

Value Added Tax – VAT
Value Added Tax “VAT” convention has been signed by the Kuwaiti government with the Gulf Cooperation Council Countries on 27 November 2016 for a rate of 5%, and each country will determine the application date. VAT differs from the other types of tax where VAT is imposed on the final user or consumer of a product or service, and only companies that run their businesses in Kuwait and meet the criteria of the tax department are subject to VAT.
UHY Pillars has built a good relationship with the tax department in Kuwait, and remains updated at all times in order to be better informed to advise its clients on tax issues.
Through our talented tax team, UHY Pillars can help our clients to evaluate the effect of VAT on their business and how they can manage VAT tax procedures.
Our tax team as well is ready to help our clients establish solid compliance and reporting sustainable tax approaches to accomplish their business goals.
UHY Pillars provides, VAT services:
– Review and audit the tax declaration
– Assist in applying for VAT registration
– Help entities to identify the impact of VAT enforcement on their business activities, process, and accounting records.
– Value Added Tax consulting