VOL. XLVI

No 47

24-November-2003

KUWAITCAPITAL MARKETS

Kuwait Grants Foreign Investors 10-Year Tax Exemption

Following on from the introduction of a law last month which allows 100% foreign ownership of firms in the emirate, Kuwait has announced that foreign investors will enjoy a 10-year period of tax exemption. Previously foreign companies and investors had to pay up to 55% of their profits in taxes. The moves are designed to encourage foreign investment, according to Shaker al-Saleh, assistant...