Liquidation, tax clearance, retention release and deregistration

We plan the exit, file final returns, obtain the tax clearance certificate that releases retentions, close PIFSS and staff matters and complete MOCI deregistration.

KWD 1,800One time

For: Companies and branches leaving Kuwait.

What we need from you

Final audited accounts
Final return
All tax years filed and assessed
Clearance
Retention balances held by customers
Release
Staff list and indemnity due
Settlement
PIFSS registrations
Closure

What we discuss

Are all tax years inspected?
Clearance needs closure of inspections
How much retention is held by customers?
Released only on clearance
Staff indemnities funded?
Must be paid
Liquidate or keep dormant?
Ongoing costs

What we file

File final declaration
Obtain tax clearance certificate
Deregister with MOCI

What you get

Exit plan
Tax clearance certificate
Deregistration confirmation

The law

Companies Law No. 1 of 2016 (as amended, including Decree-Law 106 of 2024): Governs company forms, WLL partner meetings, accounts and liquidation; Decree-Law 106 of 2024 eased WLL extraordinary meeting quorums Source
Income Tax Law Executive Bylaws: 5% tax retention: Public and private contract owners retain 5% of each payment to contractors and suppliers until a tax clearance certificate is shown; final payment at least 5% of contract value Source
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 Source
Income Tax Law: objections and appeals: Object within 60 days of assessment; the authority decides within 90 days; appeal to the Tax Appeals Committee within 30 days Source

Questions people ask

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