Kuwait signs agreement on tax base erosion and profit sharing
IOM presents video on Kuwait’s humanitarian efforts
PARIS, June 8, (KUNA): In an extraordinary step, Kuwait signed late Wednesday a multi-party agreement to implement prevention measures regarding base erosion and profit shifting.
Kuwait’s Ambassador in Paris Sami Al-Sulaiman headed the Kuwaiti delegation on behalf of the Deputy Prime Minister and Minister of Finance Anas Al-Saleh during the signing ceremony, which witnessed the participation of 72 countries, including 40 ministers of finance, at the headquarters of Organisation for Economic Cooperation and Development (OECD).
In remarks to KUNA, The diplomat stressed the importance of this agreement as it provides flexibility in changing its articles while maintaining its main content, which guarantees stability.
According to OECD’s definition, base erosion and profit shifting, or BEPS, refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially-shift profits to low or no-tax locations. Under the inclusive framework, over 100 countries and jurisdictions are collaborating to implement the BEPS measures and tackle BEPS.
Meanwhile, KUNA Chairman and Director General Sheikh Mubarak Al-Duaij Al-Ibrahim Al-Sabah received a visiting delegation of the International Organization for Migration (IOM) on Thursday.
During the meeting, head of the delegation Eman Oraiqat and programs assistant Abdulaziz Khuraibet presented a documentary video on Kuwait’s humanitarian efforts around the world.
Sheikh Mubarak Al-Duaij expressed his appreciation for IOM’s efforts to produce the movie which shows Kuwait’s continuous humanitarian aid for those affected by war and natural disasters.
On her part, Oraiqat noted that the movie titled “in their words and voices” sheds light on IOM’s humanitarian aid operations and projects that are financed by Kuwait.
The video was filmed at refugee camps for displaced Syrians in Syria, Jordan, Lebanon, Turkey and Iraq, as well some locations in Kuwait. She added that they had worked on the documentary for six months.
The meeting was attended by KUNA’s Deputy Director General for Administrative and Financial Affairs and Communications Abdulhameed Malak and Deputy DirectorGeneral for the Editorial Sector and Editor-in-Chief Saad Al-Ali.