Kuwait: Imposing a 15% tax on a group of multinational entities

 The Kuwaiti Cabinet, headed by Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, approved a draft decree law issuing the tax law on a group of multinational entities, which imposes a tax at a rate of 15 percent on entities that conduct business in more than one country or jurisdiction, and that the law be applied first. Next January.

The Deputy Prime Minister and Minister of State for Cabinet Affairs of Kuwait, Sherida Abdullah Al-Muasherji, said that this came during the Cabinet meeting on Tuesday, adding that This is in compliance with global tax rules and with the aim of reducing tax evasion and preventing the leakage of tax revenues to other countries.

 

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