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.
IRS criminal investigation chief Guy Ficco said his agency has become more aggressive and capable of dealing with crypto-related tax crimes amid tax reporting season. The United States Internal Revenue
In a recent development that has caught the attention of Wall Street and Main Street alike, the Senate has taken significant steps on a controversial tax bill. This legislation, if passed, could dramatically
Press Release from Jersey Finance, Monday 13 May, 2024. Jersey Finance continues to build on its presence in South East Asia hosting a series of events last month to further build Jersey’s profile
The latest Finance Bill amendments correct some technical errors and include a few helpful changes to the Temporary Repatriation Relief.The Finance Bill 2025 Report Stage amendments were published mid-afternoon