KUWAIT CITY: Kuwaiti Finance Minister Anas Al-Saleh told a press conference on Monday that the Cabinet had approved a plan to impose a 10 percent tax on profits of companies.

The Cabinet also approved a repricing of some commodities and public services, he added, without elaborating.

Corporate taxes are currently levied at different rates for local and foreign companies, although most Kuwaiti companies do not currently pay taxes on income.

Other charges are levied though: some firms must pay an employment tax and make mandatory contributions for zakat and for a scientific research foundation.