Kuwait rolls out MNE top-up tax
in providing a fair investment environment and promoting tax equity. She emphasized that the new legislation reflects Kuwait's commitment to achieving fiscal balance and diversifying revenue sources away from reliance on the oil sector. Minister Al-Fassam stressed that preliminary estimates suggest the tax could generate approximately KD 250 million annually, thus strengthening the state's capacity to build a resilient and sustainable economy capable of withstanding future challenges. She announced that the ministry plans to hold a series of awareness workshops in the coming period to support the law's implementation and clarify the details of the executive regulations for relevant authorities and specialists, with dates to be announced in due course.
In other news, the Ministry of Finance issued Ministerial Resolution No. 54/2025 that amends the regulations governing the use of stateowned properties and service fees specified in Resolution No. 40/2016, reports Al-Seyassah daily. Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam explained that the new amendments aim to achieve a fair balance between the use of such properties by individuals and entities and the public interest, ensuring clear procedures and enhancing transparency in transactions.
The amended regulations cover the use of various activities, including chalets, rest houses, shopping malls, cooperative societies, banks, warehouses, as well as sports clubs, schools, and hospitals. The resolution includes stabilizing agricultural plot prices to support food security and encourage local production. She said the amendments were based on an extensive study of pricing trends at both Gulf and international levels. Minister Al-Fassam explained that the revised prices are lower than the average prices in GCC countries, taking into account Kuwait's economic and social conditions. The aim is to ensure equal opportunities for all as well as enhance state revenues on a sustainable basis.
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