Kuwait to impose 10 per cent tax on corporate profits | GulfNews.com:
"Kuwait told a press conference on Monday that the cabinet had approved a plan to impose a 10 percent tax on profits of companies.
The cabinet also approved a repricing of some commodities and public services, said Kuwait’s acting Finance Minister Anas al-Saleh. He said country would seek to privatise some state-owned projects, including airports, ports and some facilities of the Kuwait Petroleum Corporation (KPC). Al-Saleh did not give a timeline covering when the tax would implemented.
That Kuwait was first planning to introduce a corporate tax was first announced in December, when the ministry announced it could be part of a broad move to introduce fiscal reforms amid pressure from low oil prices."
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