Income tax on foreign bodies corporate
An annual income tax is charged on the income of every body corporate, wherever incorporated, carrying on trade or business in Kuwait (in practice, foreign entities), including profits from contracts performed in Kuwait, services and property leases. The tax is fixed at 15% of net taxable income. Profits from trading on the Kuwait Stock Exchange are exempt. The return is due by the fifteenth day of the fourth month after the end of the tax period; the tax is paid in four equal instalments on the fifteenth day of the fourth, sixth, ninth and twelfth months after the period ends. Reference: Ministry of Finance, Income Tax Decree No. 3 of 1955 as amended by Law No. 2 of 2008, and its executive bylaw.