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Monday , February 6 2023

No new taxes eyed

This post has been read 12780 times!

KUWAIT CITY, Nov 29: According to government sources, the government’s work program does not include the imposition of any new taxes, either value-added tax or selective tax or income tax, or any other taxes related to the labor and income of individuals, reports Al-Rai daily. They explained that the new program does not include any tax addition other than what is currently applied to companies.

It is expected that the rates of taxes collected from companies will increase during the next fiscal year, with an increase in the percentage of the proceeds for the current fiscal year by approximately KD 155 million. The sources emphasized that the government seeks to enhance the welfare of the citizens and not burden them with undue burdens, especially in light of the high levels of infl ation in the local and global markets, which is expected to continue on an upward trend in the coming period.

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