
Kuwait introduces tax rules, expects $820m in revenue
The decree (No. 55 of 2025) implements Law No. 157 of 2024, which brings Kuwait in line with the OECD's Pillar Two global minimum tax framework through the introduction of a Domestic Minimum Top-up Tax (DMTT).
According to the Ministry, the new regulation clarifies legal provisions, outlines implementation mechanisms, and enhances transparency in accordance with international best practices.
New Kuwait tax rules
The Ministry said the move aligns with Kuwait Vision 2035, which aims to build a more diversified and resilient economy.
Finance Minister and Minister of State for Economic and Investment Affairs, Eng. Nora AlFusam, said the regulation is pivotal for creating a fair investment environment and enhancing tax justice.
She added that expected annual revenues from the tax could reach around KD250m ($820m), helping build a resilient and sustainable economy.
The Ministry of Finance will organise a series of awareness workshops to help explain the new tax law and its executive regulations to relevant stakeholders, ensuring smooth implementation and full compliance.
The tax applies specifically to large multinational groups operating in Kuwait, in accordance with global tax fairness principles outlined by the Organisation for Economic Cooperation and Development (OECD).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
39 minutes ago
- Zawya
Oman Air appoints new deputy CEO
Oman Air has announced the appointment of Hamood Al Alawi as Deputy Chief Executive Officer. This strategic appointment marks a significant step in the airline's transformation journey and underscores its commitment to building a strong pipeline of Omani leaders in the aviation sector. Al Alawi joins Oman Air from Oman Airports Management Company, where he served as Acting Chief Executive Officer and played a pivotal role in launching the airport's own transformation programme. Saeed bin Hamoud Al Mawali, Minister of Transport, Communications and Information Technology and Chairman of Oman Air, said 'The appointment of Al Alawi is a proud moment for the airline and the country's aviation sector. He has demonstrated exceptional leadership in his role at Oman Airports Management Company and we are confident that he will bring the same vision and drive to the national airline. This is a clear outcome of our succession planning strategy and reflects our commitment to cultivating Omani talent and ensuring our leadership reflects the national values, priorities and ambitions.' Con Korfiatis, Chief Executive Officer of Oman Air, added, 'Al Alawi is a strong leader with sound judgement and a deep understanding of the aviation industry. His appointment strengthens our leadership team at a critical time in our growth journey. I look forward to working closely with him as we proceed on our transformation agenda and deliver long-term sustainable value for the country.' Holding a Bachelor's degree in Mechanical Engineering from the University of Leeds, UK, Al Alawi brings over two decades of diverse leadership experience across the government and private sectors, with a strong track record in asset management, corporate transformation and commercial performance. He has held senior roles with Shell International in the Netherlands, led flagship-cost efficiency initiatives for Petroleum Development Oman (PDO), and served as a member of the Executive leadership team at the Ministry of Transport, Communications and Information Technology, where he headed a unit responsible for an OMR 1 billion strategic project. In 2024, Al Alawi was appointed to lead the transformation of Oman Airports Management Company, where, during a brief but impactful tenure, the company delivered record financial performance, including the highest EBITDA since its establishment, as well as a comprehensive restructuring programme to enhance efficiency and capacity. As Deputy CEO of Oman Air, he will play a key role in driving the day-to-day activities of the transformation, working directly with the CEO and senior leadership to facilitate change and enable the delivery of performance targets which ensure the airline's long-term commercial viability, financial sustainability, and operational excellence. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


Zawya
an hour ago
- Zawya
AMPO Poyam will supply valves for ADNOC
AMPO POYAM VALVES has been selected to supply highly engineered cryogenic valves for the Maximising Ethane Recovery and Monetisation (MERAM) project, one of Adnoc's major strategic initiatives aimed at boosting the recovery of ethane from gas and enable its monetisation. The project, awarded to the joint venture between Técnicas Reunidas and National Petroleum Construction Company (NPCC), will be executed in the United Arab Emirates, with the main facilities located at the Habshan 5 gas processing plant in Abu Dhabi. With an investment of $3.6 billion, MERAM is set to become a key pillar in Adnoc's long-term strategy to enhance ethane recovery and support the country's industrial growth. As part of this ambitious project, AMPO will deliver a total of 116 cryogenic valves in 2025 and 2026, including 68 valves larger than 12', and 48 valves smaller than 12', with some valves reaching up to 24″, 30″, and 36″ in size. These valves will operate under extremely low-temperature conditions, ensuring maximum reliability and safety throughout the ethane recovery process. The selection of AMPO is a testament to our proven expertise and track record in cryogenic valve technology. Técnicas Reunidas and Adnoc turned to AMPO POYAM VALVES not only for our product quality and technical reliability, but also because of our long-standing experience with large-scale energy projects and cryogenic applications. This partnership reinforces AMPO's position as a trusted global leader in highly engineered cryogenic valve solutions for the most demanding service conditions. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (


The National
2 hours ago
- The National
What to know about Emiratisation
For decades, most Emiratis have worked in government roles. But now, thousands are joining private companies as part of a nationwide plan to balance the workforce. Early iterations of Emiratisation began in the 1990s, with programmes formalised in the early 2000s. About three years ago, the UAE gradually implemented quotas for hiring Emiratis and gave private-sector companies deadlines to meet them. Now, those deadlines continue to come up. In this episode of Business Extra, host Salim hears from our own Ali Al Shouk and Ben Crompton of Crompton Partners on Emiratisation, how it's affecting companies, and what it means for the future of work in the UAE.