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Tax

November 1, 2016 at 19:14

Kuwait to start applying Value Added Tax (VAT) soon

Kuwait City, State of Kuwait
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Kuwait: Al-Aiban and Ossaimi partner and tax advisory service agent at Ernst and Young (EY) Alok Chugh said Kuwait will start preparing to impose value added tax (VAT) within six months at most, and EY is currently in talks with the finance ministry to provide consultancy services for the project.

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January 24, 2016 at 07:35

No plans to collect income taxes

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KUWAIT: Kuwait has no plans to collect income taxes from its citizens neither soon nor at any time in the future, Deputy Prime Minister, Minister of Finance and Acting Minister of Oil Dr Anas Al-Saleh said.

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November 29, 2015 at 00:27

Kuwait has no plans to enforce income taxes: Ministry

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Kuwait: Kuwait has no plans to enforce income taxes on individuals at any time since it enjoys a strong financial situation and stays committed to the rentier state concept, a senior Finance Ministry official said.

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November 9, 2015 at 09:24

Proposal for imposing tax on expat money transfer rejected

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Kuwait: Expatriates may become assured that they will not have to pay five percent fees on their money transfers outside Kuwait, as the parliament legislative committee found a constitutional violation in the Parliamentary proposal that calls for enforcing the fee.

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June 16, 2015 at 15:12

MP proposes 5% tax on expat money transfers

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Kuwait: Pro-government MP Kamel Al-Awadhi yesterday proposed that expatriates should be forced to pay a five percent tax on any money transfers sent to their home countries to pay for highly-subsidized public services offered to them. The lawmaker, who headed the immigration department for years before turning to politics, presented his proposal in the form of an amendment to the central bank law.

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March 16, 2015 at 16:10

Kuwait plans to introduce corporate tax

Kuwait plans to introduce corporate tax
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Kuwait: Kuwait has sought help from the International Monetary Fund to introduce corporate taxes in a bid to diversify revenue in the face of falling oil prices, a minister said yesterday. “The IMF will prepare a preliminary report on how to impose taxes on companies in Kuwait,” Commerce and Industry Minister Abdulmohsen Al- Mudej said after a meeting with IMF representatives, the official KUNA news agency reported.

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