Kuwait Court of Cassation principle number 331

It is impermissible to adopt anything that contradicts or restricts statutory provisions where they are clear and manifest. - The provision of Article 12 of Law 19 of 2000. Its consequence: calculation of tax at 2.5% of the annual net profits of Kuwaiti companies listed on the Kuwait Stock Exchange. Its consequence: calculation of tax on the annual net profits of the aforementioned companies. This includes the profits they receive from subsidiaries, whether Kuwaiti or non-Kuwaiti, listed or unlisted. Exception for listed subsidiaries if tax has been collected from them. Reason therefor: preventing double taxation.