Kuwait – Mubasher: Kuwait may impose tax of not more than 10% on corporate profits, while there will be no tax on income, said Minister of Commerce and Industry Yousef Al-Ali.
In an interview with Alarabiya TV, the minister added that Kuwait aims to rationalise commodity subsidies while continuing to protect low-income brackets, noting that subsidies on electricity and fuel would go for those who deserve them.
The Kuwaiti government is currently working on boosting the business climate through facilitating procedures of establishing companies, according to Al-Ali.
He also revealed that a new law will be issued shortly to help distressed companies.
