The business of… Tax in the GCC
From corporate income tax in Saudi Arabia to social security tax in Kuwait, Kipp takes a look at how the citizens of the Gulf are taxed.
September 9, 2010 2:17 by kippreport
CORPORATE INCOME TAX
- Kuwaiti companies listed on the Kuwait Stock Exchange pay an employment tax of 2.5 percent of the company’s net annual profits. Zakat is imposed on all publicly traded and Kuwaiti shareholding companies.
SOCIAL SECURITY TAXES
- There are no social security obligations for expatriate employees, but Kuwaiti employees pay monthly contributions. Employers’ contribution is 11 percent and employees pay 7 percent.