Kuwait Court of Cassation principle number 587

The provision in Article 12 of Law 19 of 2000 concerning Support for the National Workforce and Encouraging It to Work in Non-Governmental Entities imposing a tax of 2.5% of annual net profits on Kuwaiti companies listed on the Kuwait Stock Exchange. Its import: a company is subject to tax only from the date on which the elements of the legal status required by the provision are complete through its listing on the Kuwait Stock Exchange. It may not validly be required to pay this tax before that condition is fulfilled. The challenged judgment’s adherence to this view. Correct in law. The challenge thereto. Unfounded. 16- In matters of legal practice:-