ascension

Income Tax

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.

Ascension provides its services to foreign companies to manage their income tax file within the State of Kuwait including:

  • Submit an application for registration
  • Submit the application for approval of first financial period
  • Review and audit the tax declaration
  • Attend the documentary inspection on behalf of the incorporated body
  • Follow up the issuance of the tax assessment decision
  • Follow up obtaining the tax clearance certificate
  • Follow up obtaining the tax retention release certificate
  • Assist the incorporated body in preparing the tax objection and its documents
  • Assist the incorporated body in preparing the tax appeal and its documents