Kuwait reveals rules for new multinationals tax and expects to raise $819m from it annually

Kuwait reveals rules for new multinationals tax and expects to raise $819m from it annually

The domestic minimum tax will apply to large companies that operate in more than one country

Australia's CbCRs to shine light on multinationals tax

New laws to make it harder for large Australian and foreign companies to avoid paying tax

Kuwait Implements Global Minimum Tax for Multinationals, Eyes $81.2 Million in Annual Revenue

Kuwait has unveiled executive regulations regarding its tax on multinational entities, anticipating that the levy will generate KWD250 million ($81.2 million) in annual revenues. The country’s Ministry of Finance stated that the new regulations outline the introduction of a supplementary domestic minimum tax (DMTT) under the multinational entities (MNEs) group tax. These regulations “aim to interpret and clarify the provisions of the law, define…

Kuwait targets $819m yearly income from companies tax

Kuwait is expected to generate annual revenues of nearly KD250 million ($819 million) through the 15 percent tax imposed on multinational companies operating across multiple jurisdictions. Although the domestic minimum top-up tax (DMTT) came into effect on January 1, 2025, the finance ministry issued a decree last week unveiling the executive regulations for the law, the state-run Kuna news agency reported. The regulation clarifies the law’s pro…