GTL Summary:

This Decision establishes the Executive Bylaws, specifically covering Articles 1 to 48, which govern tax administration and compliance. Its primary purpose is to provide detailed regulations for implementing the governing tax law. A key focus, as detailed in Article 10, is defining the taxable year. The bylaws stipulate that tax is assessed annually on taxable income, with the first fiscal period for a tax declaration being a standard 12-month calendar year. It provides flexibility, allowing a taxpayer to adopt a different accounting period of up to 18 months, subject to prior approval from the Tax Administration.

Document Type: EB - Executive Bylaws
Law: KIT (Law No. 2 of 2008 amending Decree No. 3 of 1955)
Decision Number: executive-bylaws-29-article-10
Year: 2008
Country: 🇰🇼 Kuwait
Official Name: Article 10
Last updated at: 2026-01-05 08:39:39 UTC

Chapter 4 : Taxable Year

Article 10

The imposed tax shall be assessed annually according to this Law on the taxable income.

The first fiscal period for the submission of Tax Declaration shall be one Calendar Year (12 months). A taxpayer may follow an accounting period which is different from the Calendar Year before submitting the Tax Declaration but it should not exceed (18 months) after the approval of the Tax Administration thereof.

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