Kuwait Court of Cassation principle number 3411

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 meaning: the company is not subject to tax until the date on which the elements of the legal status required by the provision are completed through its listing on the Kuwait Stock Exchange. It may not be required to pay this tax before this condition is fulfilled. The challenged judgment's adherence to this view. Correct in law. The challenge thereto. Without basis.