The Kuwaiti Cabinet has approved a draft decree-law imposing a 15% tax on multinational entities operating across multiple jurisdictions, aligning with global tax regulations. This law, aimed at curbing tax evasion and ensuring tax revenue retention, will take effect in Kuwait on January 1, 2025.
During its weekly meeting at Bayan Palace, chaired by His Highness the Prime Minister Sheikh Ahmed Al-Abdullah, the Cabinet also emphasized the importance of expediting infrastructure projects. It instructed the Ministry of Public Works, in coordination with the Public Institution for Housing Care, to fast-track contracts for sewage treatment plants serving new and planned residential areas, ensuring timely project completion.
In other matters, the Cabinet approved the minutes of the Supreme Committee for the Investigation of Kuwaiti Nationality. This included decisions to revoke Kuwaiti citizenship from individuals who had obtained it through fraud or forgery, as per the provisions of Decree Law No. 15 of 1959 and its amendments. Several other topics were discussed, with some referred to relevant ministerial committees for further study and action.
The World Bank priced the first CHF digital bond by an international issuer, which will settle using Swiss Franc wholesale Central Bank Digital Currency (wCBDC) provided by the Swiss National Bank (SNB).
The data sheds light on who is top of the tree in the citizenship and residency-by-investment schemes around the world. Malta and Portugal rank top in their respective categories. The Mediterranean
The EU and OECD have jointly developed rules to prevent companies from exploiting differences in national legislation for financial gain. According to a new thesis at Uppsala University, however, companies
As published on: crypto-news-flash.com, Friday 22 November, 2024. For the first time in South Korea, a local government has taken the extraordinary step of directly selling tax defaulters’ crypto