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Taxation (applicable only to Kuwait)
Income Tax in Kuwait was imposed by Law No. 3 of 1995. The
Kuwait National Assembly passed a law that amended several
provisions of the tax legislation. The changes went into
effect on February 3, 2008. Implementing regulations have
been recently issued.
The new law reduces the income tax rate on net profits of
foreign entities operating in Kuwait to a flat tax rate of
15% (instead of the former range of 0% to 55%). The 15% tax
will be levied on the profits of any foreign body corporate
carrying on trade or business in Kuwait.
We provide advice to foreign companies with respect to
liability for income tax and advice on a transaction’s
structural alternatives to assist in mitigating a foreign
company’s exposure to the payment of income tax in Kuwait.
We are also able to advise clients with respect to possible
tax exposure in other countries in the Gulf region.
