Kuwait Implementing Global Minimum Tax on Multinationals

Kuwait will enact a 15% minimum tax on multinational companies, bringing the country in line with the OECD’s global tax rules.

The country issued Decree No. (157) of 2024 to implement a supplementary local minimum tax—or DMTT—on a group of multinational entities, Minister of Finance Noura Sulaiman Al-Fassam announced in a press release Monday.

• The tax is in line with the Organization for Economic Cooperation and Development’s Pillar Two, which is one half of the OECD’s global tax deal. It will take effect starting Jan. 1, 2025, according to the release.
• “The application of this tax comes as ...