Tuesday , October 17 2017

Tag Archives: remittance

Kuwait among top six countries with highest expat remittances

KUWAIT CITY, June 21: Kuwait is among the top six countries worldwide with highest expatriate remittances. According to a study conducted by Al-Shahed daily, the volume of remittances sent by expatriates in the Gulf countries exceeded $100 billion, which constitutes 23 percent of the total transfers of $445 billion worldwide …

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Remittances by expats in last two weeks touches KD 50 mln – ‘400,000 transactions’

KUWAIT CITY, June 7: There has been a noticeable increase in the remittances of expatriates in the last two weeks, with the total remitted amount reaching KD 50 million. They revealed that the total number of transactions in this regard was about 400,000. The sources explained that there are four …

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Firm Central Bank no to expat remittance – MONEY WILL MOVE UNDERGROUND, SKEW MARKET, INCUR COST

KUWAIT CITY, May 1: Central Bank of Kuwait (CBK) Governor Dr Mohammad Al- Hashel said imposing taxes or fees on expatriates’ remittances is not part of suitable measures to increase non-oil revenues, reports Al-Seyassah daily quoting parliamentary analysts. He confirmed at the same time that the Central Bank is not …

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Warning on remittances tax of expatriates – ‘Negative impact on economy’

KUWAIT CITY, March 19, (Agencies): “Any move to impose taxes on the remittances of expatriates in Kuwait will negatively impact the economy of Kuwait. The lawmakers of Kuwait should conduct a thorough study of the issue before proposing laws in this regard”, says a financial expert from Kuwait. This is …

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MP targets expatriate remittances in queries – Monitoring … tax

KUWAIT CITY, March 16: MP Khalil Al-Saleh disclosed the remittances of the expatriates over a five-year period from 2010 to 2014 have reached 2.19 billion dinars apart from the unofficial remittances and wants to know if the authorities have any intention of imposing tax on money transfers. He said the …

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MPs slam proposal to tax expat remittances – Situation worsens in health insurance crisis

KUWAIT CITY, Jan 29: Several lawmakers slammed the proposed taxes on remittances of expatriates, reports Arab Times daily. While asserting that the proposal is “nonsensical”, the lawmakers warned that it will negatively affect not only the expatriates but Kuwaitis as well — up to the extent of intensifying feelings of …

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Over 2/3 of expats earn less than KD 180/month – Tax on money transfer opposed

KUWAIT CITY, Jan 29: Recent data released from the Central Statistics Bureau revealed that more than two-thirds of the expatriate workers, which constitute about 59.29 percent of all the expatriates in the country, earn less than KD 180 per month. The data indicated 24.2 percent of the expatriates earn monthly …

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EXPAT FUNDS TO STATE COFFERS … FINES, JAIL FOR DODGERS – MP proposes bill on remittance tax

KUWAIT CITY, Jan 5: MP Faisal Al-Kandari on Thursday submitted a proposal to impose tax on the remittances of expatriates. Article One of the bill stipulates imposing tax on money that expatriates send outside Kuwait. Article Two states that the remittance tax must go to the State’s coffers. Two percent …

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The International Monetary Fund warns against tax on expat remittances

KUWAIT CITY, Dec 25: The International Monetary Fund (IMF) warned about the intention of some Gulf countries about taxation on the money transfers by expatriates, reports Arab Times daily. The report said 90 percent of the employees in the private sector are expatriates and there will be many negative effects …

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