Tuesday , September 25 2018

Tag Archives: remittance

‘Remittances of expats in Kuwait drop by 13 pc’

UN Special Rapporteur sends to MoI questionnaire on trafficking in humans KUWAIT CITY, June 4: The UN Special Rapporteur on contemporary forms of slavery, including its causes and consequences, has sent a questionnaire to the Interior Ministry on trafficking in humans, reports Al-Anba daily. The responses to the questionnaire shall …

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Govt said to reject tax on expat remittances

KUWAIT CITY, May 26: High level ministerial sources reiterated government’s stance that rejected the proposal to impose taxes on expatriates’ remittances, which was earlier approved by the Parliamentary Financial Committee, and the relevant report referred to the parliament for deliberations and voting. The same sources added government’s position toward the …

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Expat remittances globally hit $466b

KUWAIT CITY, April 25: According to a recent report issued by World Bank, the remittances of expatriates around the world increased in 2017 reaching $466 billion with the expectation of reaching $485 billion in 2018, reports Al-Rai daily. The report showed that India topped in this regard in 2017 with …

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Remittance payments hit record in 2017: World Bank

India topped with $69 billion, China $64 billion and Philippines $33 billion WASHINGTON, April 23, (AFP): Payments from immigrants back to their home countries rebounded to reach a new record in 2017 but the costs of transferring funds also increased, the World Bank said Monday. The stronger-than-expected recovery in remittances …

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Remittance tax not taken up – MPs discuss work program

KUWAIT CITY, April 18: The National Assembly once again failed to discuss the issue of imposing tax on expatriate remittances during its Wednesday session and preferred to look into the issue during next session. However, the Parliament discussed during the session the government work program for the fifteenth legislative term …

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Remittance tax deliberation timed out – Debate likely Wednesday

MPs GIVE SECOND-READ NOD TO COMMERCIAL REGISTER BILL KUWAIT CITY, April 17: The National Assembly, during its second reading Tuesday, has given nod for the Commercial Register Bill. Meanwhile, the Assembly could not discuss the bills on taxing expatriate remittances, which were tabled to be discussed today, because of lack …

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Remittance tax on agenda – Fee in exchange for providing services to Expats

IMF Section 2 – Article 8 “No member may impose restrictions without the approval of the International Monetary Fund on payments and remittances in respect of current international transactions” KUWAIT CITY, April 15: The thirty-first report of the National Assembly’s Finance and Economic Committee on bills on taxation of expatriate …

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Finance and Economic committee refuse request from exchange companies on remittance tax bill

KUWAIT CITY, April 11: The Finance and Economic Affairs Committee of the National Assembly has refused a request from the Union of the Kuwait Exchange Companies to look into its comments on the draft law of imposing tax on the expat remittances quoting sources. The sources said it is surprising …

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Cabinet Center of Public Policy to study impact of remittance tax – Central Bank of Kuwait voices concern

KUWAIT CITY, April 10: Minister of State for Economic Affairs Hind Al-Subaih said the report of the Finance Committee of the National Assembly which has given the nod to apply tax on expat remittances will be submitted to the Cabinet’s Center of Public Policy to study the impact on the …

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MPs tussle on remittance tax – Deep divisions

KUWAIT CITY, April 8: The issue of remittance tax has led to a state of tug-of-war currently in the parliamentary arena between supporters and opposers of this tax, with each side having their own arguments and evidences, reports Al-Rai daily. Now that the Parliament’s Finance Committee has referred the bill …

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