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 OECDโ€™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.