KUWAIT: The law, aimed at curbing tax evasion and retaining revenues within the country, will come into effect on January 1, 2025.
The bill was endorsed during the cabinet’s weekly meeting at Bayan Palace on Tuesday, chaired by Prime Minister Sheikh Ahmad Abdullah Al Ahmad Al Sabah. Deputy Prime Minister and Minister of State for Cabinet Affairs Shereeda Al Mousherji, speaking after the meeting, highlighted that the tax measure is designed to prevent multinational entities from channeling tax revenues to other jurisdictions.
This landmark decision is part of Kuwait’s broader strategy to strengthen its economic framework and ensure compliance with international taxation norms. Observers note that the move aligns Kuwait with similar efforts worldwide to create a more equitable tax environment for global businesses.
