Executive Rule No. 22 outlines the procedure for a Kuwaiti Incorporated Body to obtain a tax release certificate for its investments. This rule applies to investment funds, portfolios, and investments in the Kuwait Stock Exchange. It specifies that applications must be submitted to the Undersecretary of the Ministry of Finance. The Rule details the distinct sets of documents required for fund-related and Stock Exchange-related requests, including certified statements and declarations. It also includes a simplified provision for government-owned portfolios and confirms release is contingent on settling all due taxes.
Executive Rule No. 22 Concerning issuance of release certificate related to investment funds and portfolios and investment in Kuwait Stock Exchange
First: each Kuwaiti Incorporated Body may apply for a release certificate to tax department via a letter in the name of Undersecretary of Ministry of Finance addressed to Tax Submission and Planning Department to request the release certificate for its investments in investment funds and portfolios and investment in Kuwait Stock Exchange.
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