Kuwait imposes a 15% tax on multinational entities

Kuwait, December 24 / WAM / The Kuwaiti Cabinet today approved the imposition of a 15% tax on multinational entities, effective January 1 of next year.

Sharida Abdullah Al-Muasherji, Deputy Prime Minister and Minister of State for Cabinet Affairs of Kuwait, said that the Council of Ministers approved a draft decree law issuing a “tax law on a group of multinational entities,” which includes entities that conduct business in more than one country or jurisdiction.
He added that this approval comes in compliance with global tax rules and aims to reduce tax evasion and prevent the leakage of tax revenues to other countries.
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