KPMG Kuwait

09/05/2024

On Tuesday night, we participated in the Annual Gala Dinner at the American University of the Middle East (AUM), where KPMG in Kuwait was felicitated with an award for being a partner with the university for constantly hiring fresh talents from the University.

On behalf of KPMG in Kuwait, we would like to thank AUM for giving us this prestigious award and hosting such a brilliant and well-organized event.

With - Zubair Patel, Shashi Shankar Ghosh, and Ahmad Hammoud

26/04/2024

Yesterday, with the support of the Embassy of India in Kuwait, we hosted a delegation from IFSCA Official and CII International in a dedicated round table discussion where KPMG presented the economic outlook and the tax ecosystem of .

Amer Khosla - Associate in our Deal advisory team took a session on the of the country focusing on sectors such as , , and sector.

His session was followed by a session on Kuwait's Tax landscape conducted by Naveen Bohra, CA, LLB - Director in Tax and corporate services at KPMG in Kuwait.

The round table discussion ended with a few focused questions on the sector and economy of Kuwait. On behalf of everyone at KPMG in Kuwait, we thank the Embassy of India in Kuwait for this opportunity.

29/11/2023

Our guest speakers Charbel Moussa, PhD, Decarbonization Subject Matter Expert and Partner, KPMG Nederland, Naren Pasupalati, ESG Subject Matter Expert, KPMG Bahrain, and Kalyan Krishnan, ESG Subject Matter Expert, KPMG Bahrain addressing the audience on how they can demystify decarbonization, begin their organization's sustainability journey, and overcome challenges in the ESG landscape at our seminar on 'Integrating ESG into your business'.

25/11/2023

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Kuwait joins the OECD’s Inclusive Framework on

On 15 November 2023, the Organisation for Economic Co-operation and Development (OECD) announced that Kuwait has joined the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), an international collaboration with over 145 member countries and jurisdictions. Through this membership, Kuwait has committed to:

1. Participate in the Two-Pillar Solution to reform the international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate. (Please refer to our recent tax alert highlighting the proposed implementation of the minimum tax initiative under Pillar Two by Kuwait and its impact on Kuwaiti companies.)

2. Participating in the implementation of the BEPS package of 15 measures (or standards) to tackle tax avoidance, improve the coherence of international tax rules and ensure a more transparent tax environment. As a result, Kuwait is now expected to implement four minimum standards: (i) Countering harmful tax practices (Action 5); (ii) Prevention of Tax Treaty Abuse (Action 6); (iii) Country-by-Country Reporting (Action 13); and (iv) Mutual Agreement Procedures for improving dispute resolution (Action 14).

Please feel free to reach out to KPMG in Kuwait’s Tax team for any clarification on the above Kuwait tax update and we will be pleased to assist you.

15/11/2023

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At The British School of Kuwait, we had the wonderful opportunity of hosting KPMG Kuwait who visited to deliver sessions on the significance of cybersecurity to year 10. Their 'Be Cyber Safe' initiative consists of workshops that effectively educate young minds aged 7-16 to secure themselves and others online. With cybersecurity experts leading the sessions, our students gained practical insights to protect themselves against the rapidly growing threat of cyber risks.

أتيحت لنا فرصة مميزة باستضافة شركة (KPMG Kuwait) لتقديم جلسات متخصصة للطلبة في الصف العاشر عن أهمية الأمن السيبراني. تشمل مبادرة "كن آمناً على الإنترنت" ورش عمل لتعزيز ثقافة الشباب الذين تتراوح أعمارهم بين 7 و16 عاماً، بشأن كيفية حماية أنفسهم والآخرين بشكل فعال في الفضاء الإلكتروني. وخلال الجلسات التي قدمها خبراء في الأمن السيبراني، اكتسب الطلبة رؤى عملية لحماية أنفسهم من التهديد المتزايد للمخاطر السيبرانية.

01/11/2023

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مشاركة مستشفى دار الشفاء بيوم توعوي بالتعاون مع كي بي إم جي الكويت، بمناسبة شهر التوعية بسرطان الثدي وقد تضمن اليوم التوعوي عدد من المحاضرات الطبية والغذائية المتعلقة بسرطان الثدي.

01/09/2023

Hiring alert! We are recruiting for the following positions at KPMG in Kuwait. If you think you would be a good fit, or know someone who might be, then this is the chance to explore the career opportunities at KPMG in Kuwait.

To apply for the following roles, visit our Linkedin page.

22/03/2023

KPMG in Kuwait wishes you and your family . We hope you have a blessed month of Ramadan

نتقدم لكم بخالص التهاني والتبريكات بمناسبة حلول شهر رمضان المبارك، أعاده الله علينا وعليكم بالخير واليمن والبركات.

17/03/2023

Join us at 'ProudCast' — an event by KPMG Kuwait, put together by the , for the women.

Today, there is no mountain women haven't moved; no tide they haven't turned.

ProudCast aims to celebrate the empowering thoughts and ground-breaking insights of such able women who are changing the face of business each day.

It is in the spirit of the theme for International Women's Day 2023, i.e., “DigitALL: Innovation and technology for gender equality,” and will be graced by the presence of Najlaa Hamad Al Sager, May Dashti, Manal AlRubaian منال الربيعان, Sanaa Al Ghemlas, Naz Demir, Haneen Almousa, Lisa Sweis, Jamila M. Al-Dakny, Zulaiha Zohar Hassen, Maryam Mofied, Heba Abedelrahman, Shaymaa Kourah, Sara Al-Asfahani, Lamees Peshimam, and Dina Rizkallah who will have a panel discussion around (i) Purpose & (ii) & and (iii) & .

We will also present the key findings from our recent thought leadership GCC Female Leaders Outlook.

The digital age calls for innovation and technological change as much as it does for gender equality and the empowerment of women, and we are here for it.

Join us at the event by registering using the following link:
https://lnkd.in/d9Zg2Kme

21/01/2023

Happy Chinese New Year! 毕马威科威特给您拜年了！

毕马威科威特中资窗口给您和您的家人拜年啦！感谢您对毕马威中资窗口的关注、支持与信赖！

新的一年，祝您兔年新气象！扬眉兔气！兔飞猛进！前兔无量！事业顺利！阖家幸福！万事如意！

On behalf of KMPG China Business Desk Kuwait, we would like to take this opportunity to wish you and your family a happy, healthy and prosperous Year of the Rabbit!

The Rabbit symbolizes humility, elegance and kindness in Chinese culture. Good luck to the 2011s, 1999s, 1987s, 1975s, 1963s,,,

29/12/2022

May the New Year bring you happiness, peace and prosperity.

Wishing you all a Happy New Year 2023!

#2023

24/12/2022

From our entire KPMG family in , we wishes you a .

15/09/2022

Zubair Patel, Partner and Head of Tax and Corporate Services, KPMG in Kuwait, Fahim Bashir, Partner - Tax and Corporate Services, KPMG in Kuwait, and Jemin Song, Tax Advisor - Tax and Corporate Services, KPMG in Kuwait, had an interactive discussion with the Counsellor of the Economic and Commercial Affairs during their visit to the Embassy of the Republic of Korea. During the meeting, they discussed the important matters of mutual interest to support Korean companies operating in Kuwait.
 
KPMG Tax Team presented the services offered by KPMG Kuwait and the KPMG Korea Business Desk in Kuwait.

                 

06/09/2022

Zubair Patel, Partner and Head of Tax and Corporate Services, KPMG in Kuwait, Fahim Bashir, Partner - Tax and Corporate Services, KPMG in Kuwait, and Jemin Song, Tax Advisor - Tax and Corporate Services, KPMG in Kuwait, had an interactive discussion about their visit to KOTRA Kuwait. During their meeting, they discussed the matters of mutual interest to support Korean companies in Kuwait.
 
The KPMG Team presented the services offered by KPMG Kuwait and the KPMG Korea Business Desk in Kuwait.

     

19/06/2022

We're on the hunt for the most influential Tech Innovators in Kuwait. If you're a tech-driven, tech-led, or tech-enabled business with ambitious growth plans, apply to our Tech Innovator Competition now:

https://home.kpmg/kw/en/home/insights/2022/06/kpmg-private-enterprise-global-tech-innovator-country.html

كي بي إم جي الكويت بدأت في البحث عن أكثر المبتكرين التقنيين تأثيرا في الكويت. إذا كنت تعمل في مجال التكنولوجيا، أو من القادة في هذا المجال، أو تعمل بتمكين التكنولوجيا مع خطط نمو طموحة ، فقم بالتقدم إلى مسابقة Tech Innovator Competition الخاصة بنا الآن:

10/05/2022

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The 7th edition of the GCC listed banks' result report is out. In this report, our KPMG experts comprehensively analyze the financial results and selected key performance indicators of the 53 leading GCC banks for the year-ended 31 December 2021.

Download the report at https://home.kpmg/kw/en/home/insights/2022/05/gcc-listed-bank-results-2021.html

A comprehensive analysis of the financial results and selected key performance indicators of the 53 leading GCC banks’ for the year-ended 31 December 2021.

08/03/2022

At KPMG in Kuwait, we believe that gender equality underpins our Values and is vital to our Purpose: Inspire Confidence and Empower Change.

International Women’s Day is a reminder that we have an opportunity and responsibility to push for a fairer, more equitable society, and to help our people at KPMG to thrive and succeed.

Happy International Women's Day 2022

07/03/2022

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In January 2022, the Central Bank of Kuwait updated the guidelines for e-payments in Kuwait. These guidelines are mandatory to follow for performing any activities by Kuwait's e-commerce and fintech businesses. The guidelines apply to electronic payment service providers, electronic money service providers, and all local banks.

Our advisors have created a guidance document to help you understand the policies better and navigate your business through the compliance requirements. Learn more

https://home.kpmg/kw/en/home/insights/2022/03/guidance-towards-e-payments-kuwait-2022.html

03/03/2022

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A survey of 120+ banking CEOs finds ‘Purpose’ to determine the delivery of long-term value for banks. ESG ascends in boardroom agendas; cybersecurity and tax risk top threats to the banking sector.



https://home.kpmg/kw/en/home/media/press-releases/2022/03/bank-ceos-optimistic-of-sectors-growth-kpmg-reports.html

‘Purpose’ to determine the delivery of long-term value: KPMG Global Banking CEO Outlook

27/01/2022

Register for our Kuwait Tax Matters webinar where we cover various executive rules issued by the Kuwait Tax Authority. This reminder is intended for foreign companies who are working in Kuwait or plan to start a business in the country.

To register for the event visit https://forms.office.com/pages/responsepage.aspx?id=uyT_3okgAESMjvceaAN4spDYzEqBYoNPl0vUxnJW5N5UMjk4OE8wR0xNUExLVjhCWlJPOEFaU0JYVy4u&web=1&wdLOR=cD54D9BAC-8923-44ED-A8BE-D3F8C6D09367

19/01/2022

Here's the list of all the at . Please follow the link below to apply directly. Share and comment to spread the word.

1. Manager - Deal Advisory - https://lnkd.in/gfDAyRs6

2. Senior strategy associate - https://lnkd.in/gV-gAapf

3. Manager DPP - https://lnkd.in/gA-a5NGD

4. Senior Consultant - IT Advisory - https://lnkd.in/gQ4-8TG8

5. Internal Audit Supervisor - https://lnkd.in/g-KFUvVY

16/01/2022

The Forrester Wave™: Data Management Service Providers, Q4 2021 report names KPMG a “Leader” following Forrester’s evaluation of the organizations “that matter most” among today’s most significant service providers. Find out why KPMG is a Leader.

https://home.kpmg/xx/en/home/about/who-we-are/awards-and-recognition/industry-analyst-accolades.html

06/01/2022

| Ministry of Finance implements new fees for issuance of tax clearance certificates.

As of 1 January 2022, Kuwaiti companies, Kuwaiti establishments, and companies incorporated in the GCC (and wholly-owned by GCC Nationals) will be required to settle KD 50 (approx. US$ 160) for the issuance of their annual tax clearance certificate for release of tax retentions from contract owners.

Previously the annual tax clearance certificate was issued free of charge by the Kuwait Ministry of Finance. Under the Kuwait tax regulations, 5% should be retained on payments to any beneficiary until a valid tax clearance certificate issued by the Kuwait Ministry of Finance is provided authorizing the release of amounts related to tax retentions.

The mechanism for settlement of Ministry of Finance fees would be clarified as applications are processed in the coming weeks, however, this is expected to be an online settlement through the Ministry of Finance portal.

At this time it is unclear whether these changes would also extend to foreign companies applying for their No Objection Letters (NOL) for release of tax retentions, following completion of annual corporate tax compliance procedures.

Learn more on Kuwait Tax Retention returns https://lnkd.in/drzvxrF

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