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Monday , November 19 2018

Tag Archives: remittances

Drop in remittances of Filipino workers

KUWAIT CITY, Sept 25: According to figures obtained from the Central Bank of the Philippines (BSP), cash remittances from Filipino workers in Kuwait and other countries of the Middle East dropped by an average of 15 percent during the period from January to July this year, reports Al-Rai daily. An …

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Expatriate workers ‘remittances’ increase by 3.5 pc in 1st quarter

KUWAIT CITY, July 21: Central Bank of Kuwait revealed that the remittances of expatriate workers in Kuwait increased by 3.5 percent during the first quarter of this year, reports Al-Anba daily. In a press statement, the Central Bank said expatriates’ remittances reached KD 1.029 billion in the first quarter of …

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‘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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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 …

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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 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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FEAR REMITTANCE TAX MAY DENT KUWAIT HUB HOPES – DECLINE IN REMITTANCES

Levy may dampen investment interest – Bill seen to risk international reputation KUWAIT CITY, April 4: The government is determined in its stance to reject the parliamentary bill to levy the remittances of expatriates even though it was approved by the Parliament’s Finance Committee last Sunday. According to sources, the government …

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Tax everyone, says Kuwait Chamber for Commerce – VAT, Income Tax, Zakat Tax to be implemented shortly

KUWAIT CITY, April 2: The present stance of the government related to imposing taxes on remittances of expatriates gives it an opportunity to approve or dismiss the tax system.  They revealed that the government has not yet adopted a firm opinion regarding this matter. According to legal sources, the laws …

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Kuwaitis & Expats decry bid to impose tax on remittances

Kuwait Constitution frowns on ‘bid’ KUWAIT CITY, March 26: Several citizens and expatriates have expressed disappointment over parliamentary attempts to impose tax on expatriates’ remittances, asserting most expatriates have very limited income. In an investigative report, they pointed out that imposing tax on remittances of expatriates is against the Kuwaiti …

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