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Document Type: Tax Law Article
Law: KIT (Decree No. 3 of 1955)
Article Number: 2
Country: 🇰đŸ‡ŧ Kuwait
Order: 2

Article 2

Article 2

Article 2 [2]

When used in this Decree :

  1. The term "Taxpayer" means any body corporate subject to the income tax imposed by this Decree.

  2. The terms "each Taxable Period" or "any Taxable Period" or "such Taxable Period" or "the Taxable Period" shall mean a taxable period as defined in Article 5 to the intent that the charge to income tax under this Decree shall be substituted for, and shall operate to the exclusion of, the charge to income tax under the Kuwait Income Tax Decree, 1951, as regards any taxable period as defined in Article 5 hereof, or in particular the expression 'the taxable year as used in the aforesaid Kuwait Income Tax Decree 1951, has no application for the purposes of this Decree.

  3. The term "Director" means the Director of Income Taxes, who shall be appointed by the Ruler.

    The Financial Department Head (Minister of Finance) shall appoint a Director for Income Tax as of the date of publishing this decree.[3]

  4. The term "Personnel of the Director" means the employees and other persons employed by the director for carrying out of the duties of his office.

  5. The term "Body Corporate" wheresoever incorporated, carrying on trade or business in Kuwait, includes any Body Corporate carrying on trade or business in Kuwait either directly or through an agent provided such agent is a Body Corporate, and also any Body Corporate carrying on trade or business in Kuwait as an agent for others.[4]

    The new Article shall be valid at any period subject to Tax as determined in Article 2(b) ends after 31 December 1957. [5]

  6. The term "Agent" mentioned in (e) means the authorized person by his principal to practice the business or trade or any of the activities provided in Article 1 of this Law or to contract with a complied agreement with third party on behalf of his principal. and for his account and within the authorized power given to him that the profits of the Kuwaiti merchant, of his sale to some goods he bought and transfer to his own account, shall not be subject to this tax.[6]

  7. The term "Income" means gains and profits of a body corporate derived from carrying on trade or business in Kuwait.

Footnotes

[2]Paragraphs (e,g,i,j ) from Article 2 from Kuwait Income Tax Decree No. 3 of 1955, have been cancelled by virtue of the third Article of Law 2 of 2008 on amending some of the Kuwaiti Income Tax Decree Provisions No. 3 of 1955.

[3]Added on Decree No. 6 of 1959.

[4]Amended by Decree No. 2 of 1957.

[5]Added by Decree No. 2 of 1957.

[6]Added by virtue of the Third Article of Law No. 2 of 2008 on amending some of the Kuwaiti Income Tax Decree Provisions No. 3 of 1955.