Final tax declaration on exit

The situation

Declarations are due by the 15th day of the 4th month after the period ends, and every return is inspected.

The law

• Income Tax Law and Executive Bylaws: declaration and payment: Declaration due by the 15th day of the 4th month after year end; 60 day extension possible; tax paid with the return or in four instalments on the 15th of the 4th, 6th, 9th and 12th months
• Income Tax Law and Executive Bylaws: delay penalties: 1% of the tax for each 30 days or part of delay in filing or payment

What it means for you

File the final declaration from final audited accounts as soon as possible rather than waiting for the deadline. Late filing costs 1% per 30 days. A quick filing starts the inspection and clearance clock sooner.

What to do

1. Prepare final audited accounts.
2. File the final declaration early.
3. Pay any tax.
4. Request inspection.

Related

• Kuwait tax claims after closing
• Staff end-of-service on closing in Kuwait
• Keeping a Kuwait company dormant instead
• Recovering retention after leaving Kuwait
• First steps to close a Kuwait branch or company
• Closing while a tax objection is pending