Tag Archives: tax

New round of talks to determine the best way to impose tax on local cos

Govt bodies, reps of private sector to meet KUWAIT CITY, June 28: A new round of talks between concerned governmental bodies and representatives of private sector will begin soon to determine the best way to impose the previously agreed ten percent tax on local companies, reports Al-Nahar daily quoting sources …

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Court asks foreign firms to pay taxes

KUWAIT CITY, May 23: The Court of Cassation has set a precedent by obliging a foreign international company which markets its products in Kuwait through a local agent to pay accumulated taxes worth more than 4 million dinars, reports Al-Rai daily. The government has recently announced that its economic and …

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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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Legislator hits tax plans, borrowing – MP vows firm stance

KUWAIT CITY, Feb 17: The recent statements of the Supreme Council for Planning and Development Secretary- General Dr Khalid Mahdi that the State should borrow KD 25 billion and impose taxes within two to three years were irresponsible and hasty as he talked about issues beyond his jurisdiction, says MP …

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‘Govt rejects imposition of road tax’

KUWAIT CITY, Jan 29: An official source at the Ministry of Public Works said the Council of Ministers categorically rejects the imposition of any fees on the roads in future, reports Al-Anba daily. This applies to all roads even those which will be completed in the near future. The source …

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AUDIT BUREAU CALLS FOR IMPOSITION OF NEW TAXES

KUWAIT CITY, Nov 9: The Audit Bureau (AB) has called on the government to impose new taxes to increase the non-oil revenues by amending the tax laws to reform the state’s tax system saying an increase in non-oil revenues is the only way to remedy the budget deficit in light …

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Ministry of Finance starts applying tax retention on all contracts – ‘Provide tax certificates’

KUWAIT CITY, Oct 12: Ministry of Finance has started applying tax retention on all contracts obliging each establishment to comply by retaining 5 percent of the payment due to contractors or subcontractors, as well as payment related to a contract or subcontract or services until valid tax clearance certificates are …

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Finance preps selective tax on tobacco, energy drinks

50% to 100% taxation rate on some commodities KUWAIT CITY, July 13: Ministry of Finance has prepared a bill for implementation of selective tax on some commodities such as tobacco, and energy and soft drinks, reports Al-Qabas daily. This draft law is in line with the agreement among the Gulf …

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‘Dangerous effects’ on State Treasury if taxes are imposed

Need to cut state expenditures: Al-Bader KUWAIT CITY, July 12: Member of the Supreme Council for Planning and Development and former board chairman of the Gulf Bank Ali Rashid Al-Bader insists that imposing taxes will have dangerous consequences on the State Treasury, as Kuwaiti economy is relatively small and the …

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Saudi Arabia impose ‘tax’ on expats

RIYADH, July 6, (AFP): Saudi Arabia on Thursday said it had begun taxing foreigners working in the private sector as part of fiscal reforms aimed at coping with a drop in oil revenues. Long a tax-free haven for expatriates, the Saudi economy was dealt a serious blow in 2014 when …

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