Middle East Economic Survey

VOL. LI

No 1

7-January-2008

KUWAIT

Kuwaits National Assembly Approves Tax Cut For Foreign Firms

Kuwaits National Assembly on 26 December approved a government plan to cut the tax on the net profits of foreign companies from 55% to 15% in a move aimed to attract more investment from abroad. The government approved the bill in 2006 after debating it for more than a decade. The taxation bill also exempts profits made by foreign companies from trading on the Kuwait stock...