Remittance fees seen as problematic
KUWAIT CITY, Dec 9: A member of the Board of Directors of Kuwait Chamber of Commerce and Industry and Chairman of Al-Mulla Exchange Company Abdullah Najeeb Al Mulla will present a different vision regarding the approval of fees on expatriate remittances.
He said, according to his vision the salary tax should be deducted immediately from the salary as soon as it is deposited in the account of the employee. He pointed out that the tax average will be organized in different categories according to the value of the salary.
He added that his suggestion matches the State’s intention concerning the enhancement of other non-oil revenues. He stressed on the need to ignore the imposition of fees in the remittance process, which will have negative repercussions and will work to create a parallel ‘black’ market that will be out of control and will cause mess to the market.
By Bilal Bader Al-Seyassah Staff