The Ministry of Finance has issued detailed executive rules and regulations under law No. 46 of 2006, which became effective from 10 December 2007, and its subsequent amendments through Ministerial Resolution No. 58 of 2007.
The Zakat law is applicable for all Kuwaiti closed and listed shareholding companies, excluding governmental and foreign entities. It’s mandatory to register with the Ministry of Finance for Zakat taxation within (30) days from the date of incorporation. Zakat is computed at 1% of the annual net profit before the board of directors’ remunerations, contributions to the Kuwait Foundation for Advancement of Sciences, donations, grants, Zakat, and NLST.
– UHY Pillars provides consulting for Zakat tax financial declaration
Sun - Thu from 8 AM to 5 PM
