Zakat declaration for Kuwaiti shareholding companies
We compute Zakat at 1% of net profit, prepare the declaration, and first check whether DMTT scope has removed the Zakat obligation.
KWD 500Yearly
For: Kuwaiti public and closed shareholding companies (KSC) outside DMTT scope.
What we need from you
Audited financial statements
Net profit base
Legal form (public or closed KSC)
Scope
Group consolidated revenue
DMTT test
Dividends and income from Zakat paying subsidiaries
Possible exclusions
Prior Zakat declarations
Consistency
What we discuss
Are you a KSC, or a WLL?
Zakat Law targets shareholding companies
Is the group in DMTT scope?
DMTT entities are no longer subject to Zakat
Any exclusions for income already subject to Zakat?
Avoid double counting
Is KFAS also due?
Separate 1% contribution
What we file
Compute Zakat base
Example: net profit KWD 2,000,000 x 1% = KWD 20,000
File the Zakat declaration
Pay Zakat
What you get
Zakat working and declaration
DMTT interaction note
The law
- Law No. 46 of 2006 on Zakat: 1% of net profit for Kuwaiti public and closed shareholding companies Source
- DMTT Law: interaction with other levies: Entities subject to DMTT are no longer subject to the Income Tax Law, Zakat Law or NLST Law Source
- Kuwait Foundation for the Advancement of Sciences contribution: Kuwaiti shareholding companies contribute 1% of net profit after statutory reserve and loss offsets; not a tax Source
Questions people ask
Contact us to book
Online payment in KWD is not open yet. Send us a message and an adviser for Kuwait confirms the scope and the fee before any work starts.