Kuwait, 01 July, 2025 : Kuwait has unveiled a new tax targeting multinational corporations and introduced key reforms to the management of state-owned properties, the Ministry of Finance announced on Monday.
As part of the New Kuwait 2035 Vision, the government has implemented a Domestic Minimum Top-up Tax (DMTT) under the OECD’s Pillar Two framework, aimed at ensuring large multinationals pay a minimum effective tax rate. The move is expected to generate KD250 million annually and strengthen fiscal sustainability.
Finance Minister Noura Al Fassam hailed the changes as a “major milestone” in Kuwait’s economic transformation, highlighting efforts to diversify revenue sources and reduce reliance on oil.
The Ministry will conduct awareness workshops for stakeholders to facilitate smooth implementation.
In a parallel development, Ministerial Resolution No. 54/2025 was issued, updating rules on the use and pricing of public assets. The reforms affect properties such as chalets, malls, warehouses, schools, and hospitals, and aim to ensure fair access while boosting non-oil revenues.
Agricultural land prices have also been stabilized to support food security and local production, with fees remaining below GCC averages.
Source: gulfnews.com
