Kuwait and the United States of America signed a Memo of Understanding for tax exemptions on revenue of aircraft operation, the Finance Ministry reported on Monday. A ministry statement pointed out the aim of the MoU was to support airlines’ operations and activities and boost overall air transport, as well as bring down tax paid in both countries.

The MoU was signed by Finance Undersecretary Khalifa Hamadah and US Ambassador to Kuwait Deborah K. Jones at the ministry. The MoU was signed as part of Kuwait’s plan to bolster bilateral relations with many countries in the world in all fields, particularly economy and trade. (KUNA)