Kuwait’s Ministry of Finance announced on X that a supplementary domestic minimum top-up tax (DMTT) for large multinational enterprises (MNEs) has been introduced through Decree No. (157) of 2024 on 30 December 2024.
The Decree is designed to comply with the OECD’s Pillar II framework and introduces a DMTT for multinational corporations operating across multiple countries or jurisdictions. The tax mandates that MNEs will be required to pay a minimum tax rate of 15% on their income generated in Kuwait, starting from 1 January 2025.
This initiative is part of Kuwait’s Vision 2035 to establish a diversified and financially sustainable economy as announced by HE Minister of Finance and Minister of State for Economic Affairs and Investment, Eng. Noora Sulaiman Al-Fassam.