TaxSavvyKW

Preparing systems for future Kuwait VAT

What can we do now to be ready for Kuwait VAT?

The situation

Kuwait VAT is not in force; a draft is under discussion.

The law

  • GCC VAT Framework Agreement (signed 2017): Kuwait status: Kuwait has not implemented VAT; a draft law is under discussion; there is no excise tax

What it means for you

Low cost steps: clean customer and supplier master data, invoice numbering, product tax codes, and ERP capability to add tax. These also help with other GCC VAT.

What to do

  1. Clean master data.
  2. Standardise invoices.
  3. Add tax code fields.
  4. Review ERP.

We can do this for youVAT and Business Profits Tax readiness review (proposals, not in force): KWD 500

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