Kuwait joins the inclusive framework on BEPS

November 22, 2023

On 15 November 2023, the Organization for Economic Cooperation and Development (OECD) announced that Kuwait joined the inclusive framework on Base Erosion and Profit Shifting (BEPS). Through its membership, Kuwait has also committed to

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Kuwait set to implement corporate income tax for all entities

November 06, 2023

According to a recent report, the Kuwaiti government is planning to broaden the scope of corporate income tax to include all entities in Kuwait at a rate of 15%, except for small enterprises. Currently, the CIT is 15% for foreign companies carrying

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IMF Report Suggests Tax Reforms for Kuwait

August 24, 2023

On 23 August 2023 the IMF issued a report following discussions with Kuwait under Article IV of the IMF’s articles of agreement. Kuwait’s economy has continued to recover with non-oil GDP growth estimated to be 3.4% in 2021, buoyed by a

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Kuwait: IMF Report Recommends Implementation of VAT and Excise Taxes

June 05, 2023

On 5 June 2023 the IMF published a report following consultations with Kuwait under Article IV of the IMF’s articles of agreement. Kuwait’s economy has begun to recover after the pandemic with economic growth estimated at 8.2% in 2022 as a

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Kuwait: Ministry of Finance introduces sampling basis tax inspection process

April 06, 2023

On 2 April 223, the Kuwait Ministry of Finance published Ministerial Resolution No. 24 of 2023 in the Official Gazette introducing a new tax inspection process. At present, the Ministry of Finance has subjected each tax declaration filed by a

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Turkey, Kuwait signs an amending protocol to DTA

September 20, 2017

The amending protocol of Double Taxation Agreement (DTA) between Kuwait and Turkey was signed On September 14, 2017, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in

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Kuwait approves protocol to DTA with Brunei

August 13, 2017

On 7 August 2017, the Kuwaiti cabinet approved the amending protocol of Double Taxation Agreement (DTA) with

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Bangladesh approves DTA with Kuwait

July 06, 2017

On 19 June 2017, the cabinet of Bangladesh approved the Double Taxation Agreement (DTA) with Kuwait for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on

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UK: Economic relationship with GCC through PPP

April 23, 2017

On 19 April 2017, Dr Liam Fox, the International Trade Secretary of UK opened the UK-GCC Public Private Partnership (PPP) conference to show how UK expertise can maximize the innovation of both public and private sectors to transform their

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Protocol to a treaty between India and Kuwait signed

January 18, 2017

The Kuwaiti Ministry of Finance on 15 January 2017, signed a protocol with India amending the agreement between the two countries to avoid double taxation on income and to prevent tax evasion. The protocol amends the types of Kuwaiti taxes in

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The 9th Round of China-GCC FTA Negotiation Concluded

December 27, 2016

On December 19 to 21, the 9th Round of China-GCC Free Trade Agreement (FTA) negotiation was held in Riyadh, Saudi Arabia. Wang Shouwen, Vice Chinese Minister of Commerce and Al-Bazai, General Coordinator for GCC FTA Negotiations and the Vice

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Kuwait: IMF comments on economic and fiscal position

September 22, 2015

On 21 September 2015 IMF staff issued a report under Article IV of their articles of agreement following consultations in Kuwait. The recent drop in oil prices has adversely affected the economy and has slowed growth. Non-oil sector growth slowed

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Kuwait and Lithuania: Income Tax Treaty Approved

February 22, 2015

A pending income tax treaty with Lithuania was approved by Kuwait’s National Assembly on January 27, 2015. Both countries apply the credit method to eliminate double taxation. Under the treaty, dividends are taxable at a maximum rate of 5% if the

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Income Tax Treaty between Kuwait and Lithuania

October 26, 2014

The Kuwait and Lithuania income tax treaty was signed on April 18, 2013.The treaty will enter into force after both countries exchange ratification instruments. The requirements of the treaty will apply from 1st January, 2015 after the agreement

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US: Treasury Department republishes list of boycott countries that result in restriction of US tax benefits

August 28, 2014

The list of countries that requires cooperation with, or participation in, an international boycott as a condition of doing business has been republished by the US Treasury Department. The countries listed are Iraq, Kuwait, Lebanon, Libya, Qatar,

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Kuwait-Slovak Republic DTT details

July 09, 2014

Details of the Kuwait - Slovak Republic Income Tax Treaty (2012) have become available which was signed on November 13, 2012. The treaty was in the Slovak, Arabic and English languages. It generally follows the UN Model (2001). Based on the treaty,

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Hong Kong DTAs with Qatar, Canada, Kuwait, Jersey, and Mexico

April 07, 2014

The double taxation agreements (DTAs) that Hong Kong has signed with Qatar, Canada, Kuwait, Jersey, and Mexico are to take effect in Hong Kong from April 1,

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Treaty between Philippines and Kuwait

March 09, 2014

The 2009 double taxation treaty between the Philippines and Kuwait entered into force on 22 April 2013 and applies as from 1 January 2014. A 10% maximum withholding tax applies to dividends paid to a company (other than a partnership) that holds

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