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flag Kuwait implements 15% tax on multinationals, aiming to diversify income and boost economy.

flag Kuwait has approved a new law imposing a 15% tax on multinational enterprises operating in the country, effective January 2025. flag The tax is expected to generate around $800 million annually and affects about 300 groups, including both local and foreign enterprises. flag This move, aligned with the OECD's global tax reforms, aims to diversify Kuwait's income sources, reduce dependence on oil, and improve its business environment.

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