The Ministry of Finance withdraws from the Kuwaiti Monetary Fund – there will be room for tax violations

Tightening the billing system, access to data on payers and issued documents, an easy and intuitive electronic billing system for all taxpayers, organizing the archiving of issued and received documents. These were the assumptions of the national electronic invoice system (KSeF). Sound like a harbinger of a modern tax system? It is only an echo because the Ministry of Finance moved the date for implementing the mandatory system from July 1, 2024 to… exactly. Maybe next year?

KSeF is a system that enables the issuance, sending, receiving and storage of structured invoices (i.e. e-invoices, e-invoices). As announced, the system is scheduled to become mandatory as of July 1, 2024 for all entities that issue invoices. Its aim was to standardize settlements and communication between entrepreneurs and tax administration and effectively prevent tax fraud. …

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