According to a government source, Kuwait is poised to complete its global tax law by the end of the current year, paving the way for its implementation on January 1, 2025. This significant development underscores Kuwait's commitment to upholding international laws and regulations. The new law will introduce a 15% tax on companies that meet specific conditions and operate outside Kuwait's borders.
Notably, these companies will be required to pay taxes within Kuwait, rather than abroad, marking a significant shift in the country's tax regime. The government source emphasized that this law aligns with Kuwait's strategic plan and reinforces its dedication to adhering to international laws, demonstrating the country's willingness to adapt to evolving global tax standards and promote a more transparent and equitable business environment.
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