No personal income tax in Kuwait — but if you run a foreign-owned entity, file Zakat, or document Islamic financing costs across borders, you need a clean Boubyan export. Done in seconds.
Convert your Boubyan statementKuwait has no personal income tax and no VAT as of 2026. That removes one workload but does not remove tax prep. Foreign-owned entities pay 15% corporate tax on Kuwait-source income. Listed Kuwaiti shareholders face 1% NLST and 2.5% Zakat. International parent groups with a Boubyan-banked subsidiary in Kuwait need the statement as a source document for consolidated filings in jurisdictions that do tax.
Boubyan's digitally-generated bilingual PDF is the source for all of these. Converting it to a structured spreadsheet is what makes the reconciliation possible — manual re-keying of KWD figures to three decimal places is where errors creep in. Murabaha and Tawarruq repayments need to be classified as financing costs, not operating expenses, before they enter the tax computation.
For foreign corporate tax: Boubyan statements prove revenue receipts and expense outflows that DIT (Directorate of Income Tax) auditors trace against declared Kuwait-source income. Inbound SWIFT wires labelled 'حوالة دولية' are the strongest evidence of cross-border revenue.
For Zakat and NLST: closing balance figures, investment receipts, and KWD-denominated profit distributions need to be summed by Hijri or Gregorian period. Boubyan runs Gregorian; some agencies file Hijri. The converted CSV lets you filter to either calendar without losing decimal precision.
Pull every credit and debit with full 3-decimal KWD precision, keep the original Arabic narration, and tag the SWIFT BIC on international wires.
Clean digitally-generated PDF with modern branding. Bilingual Arabic-English columns; Islamic product type appears in narration. KWD to 3 decimal places. Account summary header clearly shows IBAN, product type (current/savings/investment), and period. Very consistent layout across statement generations.
| Label | Meaning |
|---|---|
| مرابحة | Murabaha repayment |
| تورق | Tawarruq cash finance |
| كي نت | KNet POS payment |
| تحويل فوري | Instant transfer (SWIFT/KNet) |
| راتب | Salary credit |
Rules in Kuwait differ — see our country guide
Pull the statement covering your tax period
From the Boubyan Bank App, request the statement covering your full filing period. Most Kuwait corporates use Jan–Dec Gregorian. If the mobile export omits page numbers, request from the web banking portal instead.
Upload to Kashfbank
The bilingual PDF goes in as-is. KWD's three decimal places stay intact across every row, and Islamic finance product labels are preserved in Arabic.
Categorise revenue, expense, and financing lines
Filter by Category to isolate inbound revenue wires from KNet spend, internal transfers, Murabaha repayments, and Tawarruq instalments. Financing costs sit apart from operating expenses in any cross-border tax computation.
Export and reconcile against your filing
Download as Excel or CSV. Sum credits for revenue, operating debits for expenses, Murabaha and Tawarruq totals for financing costs. The 3-decimal KWD totals reconcile against your trial balance.
Common challenges
Kuwait has no income tax. Why convert the statement at all?
Foreign-owned entities pay 15% corporate tax on Kuwait-source income. Listed Kuwaiti companies file Zakat and NLST. International parent groups need the Boubyan statement as a subsidiary-level source document. All of these need a structured export.
Does the export keep KWD to three decimal places?
Yes. 12.500 stays 12.500. This precision is essential when reconciling against invoices or DIT-submitted revenue figures.
How are Murabaha and Tawarruq repayments classified in the export?
Both are tagged in their own category — Islamic Financing. They are financing costs, not operating expenses. Keeping them separate lets your accountant or the tax filer treat them correctly in any jurisdiction's framework.
Does Kashfbank flag related-party wires for disclosure?
Outward international wires are extracted with the beneficiary IBAN and SWIFT BIC in the Description column. Your accountant or auditor identifies which counterparties are related parties — the data is there for them to filter.
Freelancers
Extract, categorize, and export freelance income and expenses from PDF bank statements — ready for 1099, self-assessment, or ZATCA filings.
Loan Applications
Prepare clean, lender-ready bank statement exports that prove stable income and responsible financial behavior for personal and business loan applications.
Mortgage Applications
Prepare 6–12 months of verified, structured bank statement data for mortgage underwriting — covering down payment seasoning, income stability, and GCC real estate requirements.
Regulator: Central Bank of Kuwait (CBK)
Fiscal year: Apr 1 – Mar 31 (government); Jan–Dec (private sector)
Full country guide →Statement language: Arabic / English