The Kuwaiti cabinet has approved a draft law to impose a 15% tax on multinational companies operating across multiple countries or states.
The decision was made during the cabinet’s weekly session at Bayan Palace, chaired by Prime Minister Sheikh Ahmad Abdullah Al Ahmad Al Sabah.
This legislation aligns with international tax standards and is designed to combat tax evasion and prevent the outflow of tax revenues to other nations.
According to Deputy Prime Minister and Minister of State for Cabinet Affairs, Shereeda Al Mousherji, the law will take effect on January 1, 2025.
The announcement was shared in a statement following the meeting, as reported by the Kuwait News Agency.
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