Kuwait plans to introduce a flat 10% corporate tax
Kuwait plans to introduce a flat 10% corporate tax among measures to help it cope with the low oil price. The country’s plans also include a 5% value added tax, repricing of public goods and services, stopping introduction of new government bodies, halting the expansion and combining some existing ones. Kuwait has also ordered the state oil company Kuwait Oil to keep its spending level unchanged until 2020. (Bloomberg)
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