KUWAIT CITY, Nov 23: The Ministry of Finance has imposed penalties for the late payment of income tax. Letters have been sent to three defaulting companies, urging them to expedite the payment of penalties related to their overdue income tax. The ministry confirmed that the companies in question are liable for late payment penalties accumulated over previous fiscal years.

Sources indicated that these measures fall within the framework of enforcing tax regulations and strengthening oversight to ensure fairness and secure the collection of State revenues. Sources said the imposed penalties range between 17 percent, 25 percent and 40 percent of the total unpaid tax amount. They added that the ministry stressed the importance of settling outstanding dues within 30 days, warning that failure to do so would compel it to take legal action. Sources pointed out that delaying tax payments exposes companies to legal risks and penalties, emphasizing the importance of tax collection following the implementation of several new corporate tax laws.