December 27, 2007 9:39AM 

# Britain, Canada, Germany, Italy, Spain, and Now Kuwait 

By [Chris Edwards](https://www.cato.org/people/chris-edwards) 

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To close out a year of remarkable corporate tax cutting around the world, Kuwait has passed a bill to sharply cut its uniquely high rate. Here is the one-sentence story in the *Washington Post* today (page D8):

> Kuwait’s parliament passed a bill to cut taxes on profit of foreign companies to 15 percent, abolishing a progressive scale established in 1955 with a maximum rate of 55 percent, in a bid to attract investments and diversify the economy.

Progressive is the past; flat is the future.

##### Related Tags 

[General](https://www.cato.org/general), [Tax and Budget Policy](https://www.cato.org/tax-budget-policy) 

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