Bahrain pushes ahead with Muharraq city redevelopment plan Halliburton wins multi-year Aramco gas development contract Saudi: Kent secures long-term deals with Aramco for future EPC projects Oman and Jordan launch $100mln investment firm Modon, ADIB introduce Abu Dhabi’s first off-plan home financing solutions Abu Dhabi launches maritime investment guide to attract global businesses Saudi Arabia inaugurates over 900km of roads to boost connectivity Gulftainer unveils $2bln global trade infrastructure strategy Saudi Arabia's trade surplus surges 60% to over $24bln in Q1 2026 UAE, Panama discuss boosting trade, investment, supply chains as part of 'UAE Trade Days' Sharjah Chamber registers 30,000 memberships in H1 Saudi tourism spending reaches record $81bln in 2025 Dubai's AMIS breaks ground on Jacob & Co.’s villa community; targets $10bln IPO in three years UAE's new government work model to deploy Agentic AI in public services Indonesia, Kuwait strengthen strategic energy partnership Kuwait unveils framework for 15-year residency for expat investors Riyadh Air takes off on first domestic route to Jeddah Bahrain issues laws to protect investments Qatar's Hamad Port sails into the world's top eight Kuwait air traffic returns to normal, flights resume QatarEnergy announces new oil discovery offshore Namibia UAE developer Alef launches $1.1bln mixed-use development in Sharjah ADNOC eyeing Canada upstream and LNG opportunities via XRG arm, executive says Dubai real estate deals in April surge to $18.7bln Saudi's SAMA mandates advance notification of investment rounds by financing companies Qatar maritime trade activity accelerates in May Oil steadies as uncertainty over US-Iran talks keeps markets on edge Qatar: Relatively hot daytime conditions expected, moderate night Dubai Centre for Family Businesses explores ways to strengthen business adaptability Saudi Crown Prince, UAE President discuss regional security and cooperation

Log in

عربي

Media Centre

Home » Media Centre

Kuwaiti Cabinet approves bill imposing 15% tax on multinational entities

Kuwaiti Cabinet approves bill imposing 15% tax on multinational entities

Kuwaiti Cabinet approves bill imposing 15% tax on multinational entities

Dec 25, 2024

KUWAIT - The Kuwaiti Cabinet endorsed on Tuesday a draft resolution on issuing a law imposing a 15-percent tax on multinational entities, which have business in more than one country or a state.

This move was taken during its weekly meeting held at Bayan Palace under chairmanship of His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah.

The law, which is in line with global taxes' standards, aims to curb tax evasion and prevent sending tax revenues to other countries. It will come into effect as of January 1, 2025, Deputy Prime Minister and Minister of State for Cabinet Affairs Shereeda Al-Mousherji said in a statement after the meeting, according to the Kuwait News Agency.