An annual income tax is hereby imposed on the income of every body corporate, wherever incorporated, carrying on trade or business by the activity in the State of Kuwait, particularly:

1. The profits realized from any contract that may be totally or partially completed in the State of Kuwait.

2. The amounts collected from the sale, lease, granting franchise to use or exploit any trademark, patent design or copyrights.

3. Commissions due or resulting from representation agreements or commercial mediation.

4. The profits of the industrial and commercial business.

5. Profits realized from disposing assets

6. Profits resulting from purchase and sale of properties, goods, related rights and opening a permanent office in the State of Kuwait wherein sale and purchase contracts are concluded.

7. Profits resulting from the lease of any properties.

8. Profits resulting from rendering any services.

However tax amounts in accordance with this law is hereby fixed at 15% of net taxable income.

The profits of the incorporated entity resulting from trading operations within Kuwait Stock Exchange shall hereby be exempted from the tax already imposed under this law, whether it has been executed directly or via portfolios and investment funds.