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Function documentationIncome Tax Declarations

 

You use this report to generate an annual declaration of taxable income in accordance with local legal requirements. In Kuwait, corporate income tax is not levied against companies that are wholly owned by Kuwaiti or Gulf Cooperation Council (GCC) citizens or corporations. However, corporate income tax is levied against foreign companies engaged in commercial activities in the country, either through direct ownership or as shareholders or partners of Kuwaiti and GCC companies. The tax is levied according to the extent of foreign ownership. This report generates a taxable income statement in accordance with these requirements.

Prerequisites

  • You have made the settings described in Customizing for Statutory Reports

  • You have defined the financial statement version used for this report in Customizing for Financial Accounting (New), under Start of the navigation path General Ledger Accounting (New) Next navigation step Master Data Next navigation step G/L Accounts Next navigation step Define Financial Statements Version End of the navigation path

Features

This report comes with the example financial statement version BAKW. You can use this version or define your own in customizing.

Selection

On the selection screen, you enter the selection parameters for which the report should be run and make the specific report selections that determine the content of the output. Through the buttons External Figures and Previous Losses at the top of the selection screen you make manual entries for values that are not drawn from the specified financial statements.

In External Figures you select the line number configured for manual entry and input the year, period, amount and currency. In Previous Losses, you manually enter losses or profits that are carried over into the year for which you are running the report. You enter the year of the loss or profit followed by the amount, currency and a text description or comment.

Note Note

The report only includes one previous year of losses or profits carried forward. A loss or profit from two years prior will not be included in the output.

End of the note.
Output

Select the Output Type as ALV Display to view the results of the report before you print or generate a PDF. In Other Parameters for Output, you use the Form Version to determine the language of the PDF output.

Note Note

If you select a form version that is not assigned to this report in the Customizing activity Assign PDF Forms to Reports then the results will be incorrect.

End of the note.

Activities

To access this report on the SAP Easy Access screen, choose Start of the navigation path Accounting Next navigation step Financial Accounting Next navigation step General Ledger Next navigation step Information System Next navigation step General Ledger Reports (New) Next navigation step Financial Statement / Cash Flow Next navigation step Kuwait Next navigation step Income Tax Declaration End of the navigation path, KW_TAXDECL