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Thursday , November 15 2018

Remittances of expats in Kuwait fall

KUWAIT CITY: According to the Central Bank of Kuwait, the remittances of expatriates in Kuwait fell by 9.2 percent last year, from KD 4.56 billion in 2016 to KD 4.14 billion, reports middleeastmonitor. com Parliament’s Financial Committee had approved a bill in April to impose one to five percent tax on the remittances transferred by expatriates in Kuwait.

If this bill is passed, Kuwait will be the first GCC country to levy the remittances of nearly 2.17 million expatriates in Kuwait

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