Kuwaiti cabinet endorses 15% tax on multinational entities

Kuwait’s Cabinet approved a draft law to introduce a 15 per cent tax on multinational companies operating across multiple jurisdictions. The decision was made during the Cabinet’s weekly meeting at Bayan Palace.

The proposed tax, aligned with international tax standards, aims to combat tax evasion and prevent the diversion of tax revenues to other countries. Deputy Prime Minister and Minister of State for Cabinet Affairs Shereeda Al-Mousherji stated the law would take effect from January 1, 2025.

Attribution: Emirates News Agency (WAM)

Subediting: M. S. Salama