Page 88 - JTC-Annual Report-2025-Eng

JTC Logistics Transportation & Stevedoring Company K.S.C.P
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2025
(All amounts are in Kuwaiti Dinars)

allocated by the Ultimate Parent Company within “General and Administrative expenses” in
the Consolidated Statement of Profit or Loss for the year ended December 31, 2025 (Note 18)
and (Note 22).

Contribution to Kuwait Foundation for the Advancement of Sciences (KFAS)
Contribution to KFAS is calculated at 1% of the profit of the Parent Company before
contribution to KFAS, NLST, Zakat and Board of Directors’ remuneration and after deducting
the transfer to statutory reserve.

The movement in KFAS is as follows:

2025 2024

Balance at the beginning of the year 78,479 74,384
Charge for the year 82,006 62,962

Paid during the year (62,962) (58,867)
Balance as at the end of the year (Note 0) 97,523 78,479

National Labor Support Tax (NLST)
NLST is calculated at 2.5% of the profit attributable to shareholders of the Parent Company
before contribution to KFAS, NLST, Zakat, and Board of Director’s remuneration, and after
deducting the cash dividends received from companies listed in Boursa Kuwait in accordance
with Law No. 19 of 2000 and Ministerial Resolution No. 24 of 2006 and their Executive
Regulations. Consequent to the implementation of DMTT in the State of Kuwait, the Group is
not liable to NLST effective from January 1, 2025.

Zakat

Zakat is calculated at 1% of the profit attributable to shareholders of the Parent Company
before contribution to KFAS, NLST, Zakat, and Board of Director’s remuneration, and after
deducting cash dividends received from Kuwaiti shareholding companies in accordance with
Law No. 46 of 2006 and Ministerial Resolution No. 58 of 2007 and their Executive Regulations.
Consequent to the implementation of DMTT in the State of Kuwait, the Group is not liable to
Zakat effective from January 1, 2025.

85 JTC LogisTiCs TransporTaTion & sTevedoring Company K.s.C.p.