Kuwait to introduce corporate tax as low oil prices bite

March 15, 2016 12:38 PM

10 0

KUWAIT CITY – Kuwait's government is proposing a 10 percent corporate tax on profits and the privatization of some publicly-run services and facilities to close a widening budget deficit brought on by a plunge in global oil prices.

The Cabinet suggests services at Kuwait's airport and some facilities owned by Kuwait Petroleum Company should be privatized.

Also read: Europe holds its breath as Italy votes for change

Read more

To category page

Loading...