Global Daily Tax News, Kuwait Joins BEPS Inclusive Framework, (Nov 16, 2023)

On November 15, 2023, the OECD announced that Kuwait has joined the BEPS Inclusive Framework.

In joining the BEPS IF, the country has committed to implementing the BEPS minimum standards, to remove any "harmful" tax provisions from its domestic tax regime, amend its tax treaty rules to prevent treaty abuse, implement country-by-country reporting rules and exchange these reports with other countries, and work with other countries to improve cross-border tax dispute resolution mechanisms.

Through its membership, Kuwait has also committed to addressing the tax challenges arising from the digitalization of the economy by participating in the Two-Pillar Solution to reform the international taxation rules and ensure that multinational enterprises pay a minimum tax rate of at least 15 percent on a country-by-country basis.