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13 January 2016

Kuwait proposes to expand tax to local companies' profits

The draft Income Tax Law, prepared by the Kuwait Ministry of Finance (MOF) in consultation with the International Monetary Fund (IMF), has been submitted to the Kuwait Parliament for discussion and approval. The Kuwait Government plans to vote on this law by April 2016. The Al Rai, a Kuwait daily newspaper, recently published certain tax law provisions (Articles 1 to 11) of the draft Income Tax Law. These are the only articles of the law which are currently available in the public domain.

A Tax Alert prepared by Ernst & Young Kuwait, and attached below, provides additional details.

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Document ID: 2016-0080

 

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