Wednesday , March 21 2018

Tag Archives: tax

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 …

Read More »

‘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 …

Read More »


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 …

Read More »

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 …

Read More »

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 …

Read More »

‘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 …

Read More »

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 …

Read More »

‘Submit draft of joint agreement on selective tax’

KUWAIT CITY, June 14: Deputy Prime Minister and Minister of Finance, Anas Al-Saleh has urged the concerned bodies to expedite submission of the draft of the joint agreement on selective tax, which was signed by the Gulf Cooperation Council (GCC) member states on October 10 last year, to the Fatwa …

Read More »

PM won’t rule out tax hikes – Gladiator battle looms in tightest election seat

LONDON, April 22, (Agencies): British Prime Minister Theresa May refused on Saturday to rule out an increase in personal taxes if she wins a June 8 election after her finance minister said fiscal pledges had limited his ability to manage the economy. May and her chancellor, Philip Hammond, were forced …

Read More »
Translate »