Al Hamra Tower
25th Floor, Abdulaziz Al Saqr Street, Al Sharq.
P.O. Box 24
Tel: +965 2 228 7000
Fax: +965 2 228 7444
KPMG in Kuwait
With nearly 200 employees and 9 partners based in Kuwait, we form part of a global network of 200,000 outstanding professionals working together to deliver value in 154 countries, drawing on global industry insights to complement our strong local knowledge.
KPMG in Kuwait operates through its member firms KPMG Safi Al-Mutawa & Partners and KPMG Advisory W.L.L. We provide a full range of audit, tax and advisory services to a portfolio of clients that includes major corporations, government institutions, public sector agencies and not-for profit organizations.
We can help
At KPMG, we are eager to help make your entry into Kuwait a successful enterprise. Our multi-disciplinary and industry-focused professionals can assist you as you formulate your market entry strategy and help you form reliable strategic business alliances.
Our team of tax and corporate services professionals is experienced in assisting international market entrants with inbound tax advisory services, indirect tax advisory, tax audits, and other tax compliance services
By bringing different perspectives, sound judgment and extensive cross-border collaboration, KPMG professionals help to enable clients’ informed decision-making.
Some of our relevant services are listed below.
Tax Compliance Services
1. Inbound tax advisory services
Understanding the tax implications of commencing operations in a new jurisdiction is essential. KPMG can provide you with advice on the Kuwait tax environment and related compliance obligations; review potential contracts from a tax perspective and advice on the possible application of tax treaties; and guide you on the documentation required by the Kuwait tax authority to enable your accounting function to prepare for the tax inspection.
2. Tax compliance services
KPMG is a leading tax compliance service provider and can help you register with the Kuwait tax authority, advise on the first tax period, assist you to file your annual tax declaration together with underlying schedules and information and guide you through the settlement process (if any).
3. Tax inspection
The Kuwait tax authority conducts a mandatory tax inspection for every taxpayer for every annual tax declaration filed. Presenting supporting information during the mandatory tax inspection process is a critical step in completing the annual tax compliance cycle. KPMG’s team of experienced tax professionals can facilitate your tax inspection, present documents on your behalf and assist you to defend against proposed tax adjustments. Following the completion of the tax inspection, we can assist in approaching the Kuwait tax authority for the Tax Clearance Certificate and No Objection Letter for the release of 5% tax retention held by contract owners.
4. Indirect tax advisory services
Value Added Tax (“VAT”) is on the horizon for Kuwait and you should be prepared for a major change in the tax landscape. KPMG can provide VAT assessment services to help you understand how VAT may impact your business, accounting and systems. Whilst the Kuwait government has not confirmed the final implementation date, businesses should be prepared in order to avoid the consequences non-compliance.
Following the impact assessment, KPMG can continue to provide technical advice and assist with systems implementation (where appropriate) as you prepare to go-live for VAT.
5. Corporate services
KPMG can help you with various corporate services, including:
b. Payroll processing services
Assistance in processing monthly payroll reports.
6. FATCA and CRS certification
KPMG is approved to provide FATCA/CRS certification services by the Kuwait Ministry of Finance and can provide you with a FATCA/CRS Compliance Report for submission to the Ministry of Finance, allowing you to comply with local reporting requirements, where required.
Deal advisory services
7. Market entry advice
KPMG can help you formulate your market entry strategy for Kuwait by carrying out market landscape analysis, providing you with insights into customers, competition, demand-supply gap, pricing structures and market entry routes among other things.
8. Finding business partners
Having the right local partner is important, especially in Kuwait. KPMG can help you find partnership opportunities by leveraging our local relationships and market intelligence and provide assistance with valuation, due diligence and transaction structuring.
9. PPP and infrastructure advisory
KPMG is a leading advisor for PPP and infrastructure projects in Kuwait. We help private sector bidders in structuring winning bids by drawing upon the strength of our experience on-ground local team, our global network of infrastructure experts and our strong project financing credentials.