Kuwait is weighing the introduction of value-added tax (VAT) as Gulf Cooperation Council (GCC) nations continue to reform their tax frameworks to diversify revenue sources and align with global standards, local media reported.  The VAT adoption follows similar measures by other GCC countries, including Saudi Arabia and Bahrain, which have increased their VAT rates to 15% and 10%, respectively. Qatar and Kuwait are expected to introduce VAT soon, further diversifying income beyond oil revenues. VAT was introduced across the UAE since 2018 at a standard rate of 5%. The introduction of VAT represents a pivotal step in the region’s economic transformation, providing governments with additional revenue to reinvest in infrastructure, public services, and sustainable development. These efforts align with broader global trends as GCC nations modernize their economies and reduce dependence on hydrocarbons. In addition to VAT, GCC countries are implementing the OECD-endorsed global minimum corporate tax rate of 15%, targeting multinational corporations with revenues exceeding €750 million. This measure is designed to curb tax avoidance and ensure fair contributions from companies operating in historically low-tax jurisdictions, such as Dubai and Manama. The UAE has already introduced a 9% corporate tax for businesses with profits above AED 375,000, while maintaining exemptions […]