Kuwait has issued a new decree-law combatting commercial concealment to foster a more transparent and competitive business landscape. Minister of Commerce and Industry Osama Boodai stated that the legislation aims to protect the national economy and ensure that state incentives reach eligible beneficiaries.
The law addresses unfair practices by identifying the actual beneficiaries of business activities, thereby preventing the exploitation of privileges intended for small and medium enterprises. The decree will take effect six months after its publication, giving businesses adequate time to comply with the new regulatory framework before enforcement begins.
