The decision is part of an effort by the Kuwaiti authorities to diversify revenue sources in a country that is heavily dependent on oil.
MPDP is part of the two-pillar solution proposed by the Organization for Economic Co-operation and Development (OECD). This solution provides that large multinational companies pay a minimum effective tax rate of 15% on profits in each country in which they operate.
The move by Kuwait comes after the United Arab Emirates (UAE) introduced a similar tax on large multinational companies in January this year with the aim of boosting revenues outside the oil sector.
By introducing this tax, Kuwait seeks to strengthen its economic stability and reduce dependence on oil revenues, a key challenge for Gulf countries faced with global changes in the energy sector, according to Reuters.
(Vijesti.ba)
www.vijesti.ba
