Falah al Mutairi joins IR as the exclusive Accounting Services Member in Kuwait

IR Global is delighted to introduce Falah al Mutairi of Almustashar Alkuwaity Accounts Audit Firm as the exclusive Accounting Services Member in Kuwait. Falah has been working as a certified public accountant in his own office since 2001. Besides accounts auditing, the firm are working as a tax advisers for foreign companies and trusteeships etc. […]

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Falah al Mutairi

Partner,
Almustashar Alkuwaity Accounts Audit Firm

The Governance Procedures of Public Tenders in Kuwait

Public agencies need a group of contracting and supplies according to the nature of their work, especially at a time when other state institutions may not be able to provide such services and goods, therefore public agencies are forced to contract with private sector entities. This contract is regarded as one of its kind, as […]

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Court of Appeal Dismisses Assignment Challenge By Mena Halton

Judgment was handed down by the Court of Appeal on 9 May 2022 in Lock v Stanley, Neutral Citation Number: [2022] EWCA Civ 626. The Court of Appeal upheld the first instance decision of HHJ Halliwell refusing to set aside an assignment to Manolete. It was held that the Appellant as Defendant to Manolete’s claim […]

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The ideal Kuwaiti Tax Policy For The Implementation of the GCC Vat Agreement

In fact, Kuwait appears to be a tax haven for Kuwaiti citizens, institutions and companies. These segments are completely exempt from value-added tax on annual net income. This situation means that imposing value-added tax on consumers directly, will make the capital cycle for merchants and institutions free of the tax burden, in return consumers will […]

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The VAT Gulf Agreement and its impacts on the Kuwaiti Economy

The value-added tax agreement came to reality in order to oblige the GCC countries to have a harmonious, and a unified tax vision. The agreement imposed many mandatory rules on the member states, leaving no margin of appreciation or reconsideration except in the narrowest limits, taking into account the nature and privacy of each member […]

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The impacts of the implementation of the VAT in Kuwait

As for Kuwaiti business projects and Kuwaiti traders, they are not submitted to taxation concerning the income tax resulting from operating of their projects, and they only have to pay the national labor support tax at a rate of 2.5%, Zakat at a rate of 1%, and the Kuwait Foundation for the Advancement of Sciences […]

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The Mechanism of Financial Deduction of GCC VAT

The value-added tax is characterized as a consumption tax and not a production or commercial tax, that is, it is focused on the person who consumes the goods (the consumer). Despite this, the stages of supply chain operations and the number of traders who trade the commodity before it reaches the consumer cannot be determined, […]

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The Legal Mechanism for VAT Implementation in GCC Countries

In financial taxation, a tax is not imposed without a fact that justifies its imposition. In the net income tax, the fact of making a profit according to the annual financial statements is the fact on which the income tax is imposed. The justification behind the income tax is that the income fact proves the […]

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The Legal Mechanism for VAT Implementation in GCC Countries

In financial taxation, a tax is not imposed without a fact that justifies its imposition. In the net income tax, the fact of making a profit according to the annual financial statements is the fact on which the income tax is imposed. The justification behind the income tax is that the income fact proves the […]

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Highlights of the Value added Tax and the State Economy:

In light of the state’s need for financial resources, in order to provide public services for projects and consumers, it is entitled to collect taxes in the form of resources for the public treasury. The tax base is different from one country to another according to the tax policy that reflects the legislative and executive […]

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Highlights of the Kuwaiti Competition Protection Law

The freedom to compete: . Between the legislative goals and the executive bylaw. The general principle of the law is protecting the free competition. The aforementioned Law has stated the following general principle: “The freedom to engage in commercial activity is guaranteed to everyone in which does not lead to restricting, preventing, or harming free […]

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