Aqid ERPNo VAT codes to get wrong
A Kuwaiti company's lines carry one out-of-scope code, so no document claims a VAT that does not exist.
No VAT
No VAT return — books your tax adviser can work from
Kuwait levies no VAT. What a Kuwaiti company does file — income tax for a foreign-owned company, Zakat and NLST for a listed one — starts from the profit in the books, which Aqid ERP keeps traceable to every document.
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What you get
Every figure explained
Each line of the profit and loss opens to the entries and documents that make it up.
The figures behind the declaration
Profit and loss, trial balance and general ledger by period, with the documents behind each figure.
Locked periods
Close a period once it is reported; later changes post to the next one and leave the reported figures as they were.
VAT for the group's other companies
The ZATCA, FTA, NBR and Oman Tax Authority return layouts, for a group with companies in Saudi Arabia, the UAE, Bahrain or Oman.
Questions
Does Aqid ERP file my Kuwaiti tax declaration?
No. It keeps the books and gives the figures; your adviser files with the Ministry of Finance.
Can I lock a period once it is reported?
Yes. A closed period is locked; a later correction posts to the open period, so the figures your adviser used stay as they were.
What about VAT?
Kuwait has no VAT, so there is no VAT return in a Kuwaiti company's books. The group's companies in other Gulf countries have theirs.