Kuwait to introduce 15% tax on multinational enterprises in 2025
This initiative aligns with Kuwait Vision 2035 “New Kuwait” by diversifying income sources and reducing reliance on oil revenues.
Kuwait has announced the implementation of a 15% tax on multinational enterprises (MNEs) operating across multiple countries, effective January 1, 2025, under decree 157/2024.
Minister of Finance and Minister of State for Economic Affairs and Investments, Nora Al Fassam, stated that the tax aims to bolster the national economy, enhance competitiveness, and support Kuwait's goals for economic development and financial sustainability.
This initiative aligns with Kuwait Vision 2035 “New Kuwait” by diversifying income sources and reducing reliance on oil revenues, paving the way for a more sustainable and financially resilient economy.
“The national economy is further supported by governmental legislation designed to enhance business, attract investments, and create jobs,” Al Fassam added.
To ensure a smooth transition, the Ministry of Finance plans to host workshops and meetings with affected companies, alongside issuing an executive bylaw to regulate tax enforcement.
The Kuwaiti cabinet approved the draft resolution for the tax during its weekly meeting last Tuesday, marking a significant step in the nation’s efforts to diversify and modernize its economy.
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