TaxSavvyKW

Keeping Kuwait books in English

Can our Kuwait accounting records be in English and kept in our ERP?

The situation

Records may be in English, and computerised systems are acceptable if they contain the required records and the authority has been informed.

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

What it means for you

Inform the authority that you use a computerised system. Certain records must be kept in Kuwait and are open to inspection after filing. Cloud ERPs are fine if records can be produced in Kuwait on request.

What to do

  1. Inform the authority of the system.
  2. Keep required records accessible in Kuwait.
  3. Back up regularly.
  4. Index for inspection.

We can do this for youAnnual statutory audit coordination and filing with MOCI: KWD 600

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