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Fiscal Representative in Kuwait

Fiscal Representative in Kuwait

A tax representative in Kuwait is necessary for foreign businesses to be developed in this country. This person is in charge of tax registration, plus other important tasks. We invite you to discover in the following lines some information about what a fiscal representative in Kuwait entails. Also, our Kuwaiti lawyers are at your service with legal advice in business formation in this country.

Responsibilities of a fiscal representative in Kuwait

If you want to open a company in Kuwait, you must make sure that you know the legislation. One might require tax representatives in Kuwait if you want to develop an import and export business, as well as other operations. A tax representative in Kuwait can deal with the following:

  • Prepare the documents for tax registration of foreign companies in Kuwait.
  • He/she collaborates with the authorities and ensures that he submits all the necessary documentation.
  • It is ensured that the company pays all taxes on time.
  • Specific tax declarations also come under the attention of a tax representative in Kuwait.
  • In the case of routine controls, a tax agent in Kuwait must represent the company before the authorities.

These are some of the responsibilities of a tax representative in Kuwait. If you want to open a company in Kuwait and you need a specialist, you can contact our team.

Is there an obligation to have a fiscal representative in Kuwait?

Foreign companies must appoint a fiscal representative if they want to develop their business in Kuwait. This specialist can take care of the registration for the payment of taxes. Among them, the most important is the corporate income tax imposed of foreigners doing business in Kuwait. The CIT rate is 15% in this case.

Responsibilities are clear in this case, and such an expert can deal with, in addition to registering for the payment of taxes and collaborating with local authorities to comply with fiscal legislation and implement the necessary measures. We are here to advise you on the appointment of a fiscal representative, in collaboration with our lawyers in Kuwait on legal issues.

Why invest in Kuwait

If you are interested in company formation in Kuwait, you should get an idea of the country’s economy and the sectors of interest in which you can be active. For example, the oil & gas, health, real estate, transport, and electricity and water sectors are among the most appreciated by foreign investors who want to conduct their business in a stable climate and generate profits. Among the plans of the Kuwait Direct Investment Promotion Authority, there is a clear objective, of transforming the country into a powerful trade and financial hub by promoting production efficiency and sustaining the private sector. Moreover, it is expected that the VAT to be introduced in 2028. Here are some statistics about Kuwait’s economy:

  • Around 0.9% was the economic growth recorded in Kuwait in 2023.
  • The inflation rate was approximately 3.3% at the end of 2023.
  • A3 was the business climate index of Kuwait, according to the latest data.
  • Most imports come from China, around 20% of the total. Europe follows, with 16% of total imports to Kuwait.

In addition to fiscal representatives in Kuwait, you can also opt for other services. Our experts can help you with immigration to Kuwait and the procedures involved. We are here to help you obtain residency in Kuwait if you are interested in this status. Moreover, our immigration lawyers in Kuwait can collaborate with the relevant authorities in this regard. Therefore, contact our law firm in Kuwait for more details.