Kuwait Cabinet Approves 10% Business Tax for Domestic Companies

According to an announcement made 14 March 2016, Kuwait's Cabinet has approved a proposal from the Ministry of Finance to introduce a 10% business tax for domestic companies. Currently a 15% corporate tax applies only for foreign companies, while domestic companies are exempt.

An initial proposal included rules for withholding taxes, tax losses, permanent establishments and other aspects of the regime ({News-2016-01-15/P/2- previous coverage}). Aside from the 10% rate, it is unclear what all…