The draft law was prepared together with the International Monetary Fund and would impose a 10% tax on company profits over 50,000 Dinars.

It also aims to prevent tax evasion by targeting profits transferred to reserves or allocated to pay for future expenses or losses.

Salaries and reimbursements are also covered to ensure targeted companies don't evade the tax by declaring fake salary payments.

Oil companies, charities and local government entities are exempt from the law.

For full story see: http://www.alraimedia.com/ar/article/economics/2016/01/04/647157/nr/kuwait