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Kuwait to Implement 15% Tax on Multi Companies Starting 2025

New tax law aims to align with global standards and prevent revenue loss

  • Publish date: since 14 hour
Kuwait to Implement 15% Tax on Multi Companies Starting 2025

The Kuwaiti government has approved a draft law to impose a 15% tax on multinational corporations operating across multiple countries. The decision was made during a cabinet meeting on Tuesday at Bayan Palace, chaired by Prime Minister Sheikh Ahmad Abdullah Al Ahmad Al Sabah.

Aligning with Global Tax Practices

The tax law, set to take effect on January 1, 2025, is designed to align with international tax standards. Its primary goal is to combat tax evasion and ensure that revenues generated in Kuwait remain within the country rather than being diverted elsewhere.

A Step Toward Financial Accountability

Deputy Prime Minister and Minister of State for Cabinet Affairs Shereeda Al Mousherji emphasized the importance of this move in curbing tax avoidance by global corporations. The law reflects Kuwait's commitment to adopting transparent and equitable tax policies.

What This Means for Multinational Companies

Multinational entities with operations in Kuwait will need to comply with the new tax regulations starting next year. This marks a significant shift in the country’s approach to taxation, aiming to enhance its economic stability and safeguard public revenues.

The introduction of this tax law demonstrates Kuwait's proactive efforts to modernize its fiscal policies while aligning with global economic trends.

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