Kuwait's Ministry of Finance is finalizing a draft law to introduce a general corporate income tax at a rate of 15% on all companies in Kuwait, except those with annual revenue below KWD 1.5 million. The 15% tax will apply to global income earned both within and outside the country. However, a higher rate of 30% will apply to income from businesses carried out in the "divided zone", with a provision allowing for a 50% reduction if taxes are paid to Saudi Arabia. Further, provisions will be introduced for a supplementary minimum tax to ensure a minimum effective tax rate...