Sunday , November 19 2017

Tag Archives: tax

Kuwait intends to postpone tax implementation

KUWAIT CITY: Unlike Saudi Arabia which is preparing to apply selective tax from April 2017, other GCC countries including Kuwait have not yet decided on the date for implementation of the tax, reports Al-Seyassah daily quoting informed sources. They revealed that the concerned GCC committee has been holding discussions concerning …

Read More »

‘VAT revenue for Kuwait at 3 & 5% to equal 0.8 & 1.4% of GDP respectively’ – For effi ciency VAT must be easy to implement: Feaheny

KUWAIT CITY, March 15: The Union of Investment Companies (UIC) in coordination with PwC Kuwait conducted a seminar on the topic of Kuwait taxation updates and global trends at the Kuwait Chamber of Commerce and Industry. The seminar was hosted by PwC country Senior Partner Fouad Douglas, and featured PwC …

Read More »

Canadian Soldiers serving in Kuwait lose major tax exemption – ‘Change causing hardships’

KUWAIT CITY, Feb 12: Canadian soldiers, who are currently assigned in Camp Arifjan and are participating in the fight against ISIS, are no longer entitled to a major tax break which made them save more than $9,000 each during their six-month tour, says CTV News. A report published on the …

Read More »

Imposing taxes on expatriates will impact negatively on realty sector

KUWAIT CITY, Jan 18: A number of real-estate businessmen expressed strong messages concerning the repeated parliamentary calls to impose taxes and increased fees on expatriates, stressing that such a move will reflect negatively on the real estate sector, reports Al-Rai daily. Head of the Real Estate Brokers Association Abdulrahman Al-Habib …

Read More »

GCC panel mulls draft tax treaties

RIYADH, May 25, (KUNA): The GCC committee on financial and economic cooperation convened an extraordinary meeting on the ministerial level on Tuesday, with Undersecretary of the Kuwaiti Ministry of Finance Khalifa Hamadah leading his country’s delegation. The meeting, chaired by Saudi Minister of Finance Dr Ibrahim Al-Assaf, reviewed a range …

Read More »

Kuwait preps 10% corporate tax, 5% VAT – Law to MPs within months

KUWAIT CITY, March 28, (KUNA): Governments in the Middle East and North Africa are experimenting with new taxation methods in a bid to ratchet up their assets and maintain economic stability, an international tax expert said on Monday. Speaking at a lecture entitled, “New Taxation Developments in Kuwait,” Tax Advisory …

Read More »

Cabinet nod to 10% tax on company profits – Repricing of some commodities, public services approved

KUWAIT CITY, March 14, (Agencies): Kuwaiti Finance Minister Anas Al-Saleh told a press conference on Monday that the Cabinet had approved a plan to impose a 10 percent tax on profits of companies. The Cabinet also approved a repricing of some commodities and public services, he added, without elaborating. Corporate …

Read More »

Panel discussion explores ‘Kuwait Taxation’- British Business Forum holds meeting

KUWAIT CITY, Jan 25: With falling oil prices, a budget deficit, and a recent rise in the Fed interest rates, it looks almost inevitable that Kuwait will introduce corporate taxation, was the general consensus during a panel discussion which was hosted by Donald Teale a BBF Director, during the British …

Read More »

Govt has no intention to impose taxes on Kuwaiti citizens’ income – Files of nationals working in pvt sector under review

KUWAIT CITY, Jan 23: Minister of Finance and acting Minister of Oil Anas Al-Saleh has affi rmed that the government has no intention to impose taxes on citizens’ income, reports Al-Anba daily. He said the ongoing discussions about the economic crisis are related to tax on net profits of companies, …

Read More »

Tax rise on firms eyed; subsidy ‘rationalization’ – Deficit projected at KD 8.18bn

KUWAIT CITY, Dec 8, (Agencies): Kuwait may raise the corporate tax rate to 10 percent for local firms and impose limits on energy subsidies, the commerce minister told a local newspaper on Tuesday, part of a broad move to introduce fiscal reforms amid pressure from low oil prices. Corporate taxes, …

Read More »
Translate »