Kuwait Cabinet approves bill on multinational entities’ tax law

The Kuwaiti Cabinet endorsed on Tuesday a draft resolution on issuing a law imposing a 15-percent tax on multinational entities, which have business in more than one country or a state.

This move was taken during its weekly meeting held at Bayan Palace under chairmanship of His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah.

The law, which is in line with global taxes’ standards, aims to curb tax evasion and prevent sending tax revenues to other countries.

It will come into effect as of January 1, 2025, Deputy Prime Minister and Minister of State for Cabinet Affairs Shereeda Al-Mousherji said in a statement after the meeting.

The Cabinet extolled the good organization of opening the Arabian football cup, KhaleejiZain 26, launched on Saturday at Jaber Al-Ahmad International Stadium, under the auspices of, and in the presence of, His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, and in the attendance of His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah.

The Cabinet expressed great gratitude and thanks to all teams tasked with organizing the tournament currently hosted by .Kuwait from December 21 until January 3 for their efforts and action that resulted in the success of the opening ceremony. The opening ceremony was in good shape that lives up to Kuwait’s position at sports arenas, Al-Mousherji added.

The Cabinet commended the role by Minister of Information and Culture, and Minister of State for Youth Affairs and head of the supreme organizing committee Abdulrahman Al-Mutairi, and all members and heads of sub-committees, as well as Chairman of Kuwait Football Association Sheikh Ahmad Yusuf Saud Al-Sabah, along members, Acting Director General of the Public Authority for Sports Bashar Abdullah, all officials, public and private sectors, volunteers and civil society organizations.

Meanwhile, His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Sabah told the ministers about the outcomes of Indian Prime Minister Narendra Modi and his delegation’s official visit to Kuwait on Saturday and Sunday.

They were told about the gist of Modi’s meetings with His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah.

His Highness the Prime Minister also referred to his official talks with his Indian peer that focused on means of boosting bilateral historic relations for wider horizons in all fields to serve the two peoples’ interest.

His Highness the Prime Minister pointed to a defense memorandum of understanding signed between the Kuwait and Indian governments, in addition to a sports executive program for 2025-2028 and other deals on enhancing cooperation between the two sides.

His Highness the Prime Minister also told the ministers that Kuwait and India agreed, during a joint statement, on upgrading their ties to the strategic partnership based on deep-seated and cordial relations.

Furthermore, First Deputy Prime Minister, Minister of Defense and Minister of Interior Sheikh Fahad Yusuf Saud Al-Sabah detailed the ministers about the results of his official visit to Saudi Arabia on Sunday and Monday, and official talks with Saudi Interior Minister Prince Abdulaziz bin Saud bin Naif bin Abdulaziz.

He said they discussed some security topics of mutual concern, and reviewed security ties between the two countries, and means of boosting them.

He further stated that they focused on a mechanism of coordinating joint efforts to face international and regional challenges in a manner that achieves security and stability in the two states.

Sheikh Fahad Al-Sabah affirmed the deep-seated relations between Kuwait and Saudi Arabia, and keenness of their leaders and governments on bolstering security integration and continuing joint coordination in all issues of mutual interest, Al-Mousherji noted.

The First Deputy Prime Minister, Minister of Defense and Interior Sheikh Fahad Yusuf Al-Sabah briefed the cabinet on the results of his official visit to Iraq’s Basra Governorate last Wednesday.

Sheikh Fahad inaugurated the Surgical Hospital in Basra, which was granted by Kuwaiti government, stressing that the opening of the hospital reflects the depth of fraternal ties between the two countries and embodies the State of Kuwait’s firm belief in the importance of cooperation and joint work with the Republic of Iraq.

In light of the Council of Ministers’ interest in implementing infrastructure projects for housing cities, reducing the waiting period and accelerating the distribution of housing units to those entitled to housing care, the cabinet decided to assign the Ministry of Public Works, in coordination with the Public Institution for Housing Care, and the entities it deems appropriate, to quickly conclude contracts to implement permanent sewage treatment plant projects for cities, areas and residential suburbs that are currently being built or planned, in a manner that ensures the delivery of these projects on time.

On another front, the ministers reviewed the visual presentation submitted by Minister of State for Communications Affairs Omar Saud Al-Omar regarding the executive position of the framework agreement between the State of Kuwait and Google Cloud Company, and listened in this regard to an explanation provided by the Chairman of the Supervisory Committee for the

Implementation of the Agreement, Sheikh Abdullah Sabah Al-Sabah, and a member of the committee, Mohammad Al-Rashed, about the projects that have been started in this regard, in addition to some of the challenges facing the implementation of the agreement.

The Council of Ministers decided to assign ministers and government agencies to cooperate with the Supervisory Committee to implement the agreement and overcome all obstacles facing it, provided that the committee provides the cabinet with a report every three months that includes the latest developments regarding the implementation of the agreement.

Meanwhile, the ministers reviewed a number of topics on the agenda and decided to approve them, and decided to refer a number of them to the relevant ministerial committees for further scrutiny.

The cabinet approved the minutes of the Supreme Committee for the Investigation of Kuwaiti Nationality, which includes cases of loss and withdrawal of Kuwaiti nationality from some persons who obtained it through fraud and forgery, in accordance with the provisions of Decree Law No. (15) of 1959 regarding Kuwaiti nationality and its amendments.

Source: KUNA