Saturday , April 21 2018

Tag Archives: tax

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 …

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‘Bank to collect business tax details of clients’

KUWAIT CITY, April 2: Kuwaiti banks have decided to collect the registered individual and business tax details of their clients, covering interest, profits, deposits and revenue generated through the sale of assets throughout the period the beneficiary has lived outside his home country, reports Al-Qabas daily. The daily quoting a …

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Kuwait delays enforcement of selective tax policy until mid-yr – SPC expected to okay newly approved oil strategy

KUWAIT CITY, March 29: Kuwait has decided to postpone enforcement of the selective tax regime until the middle of the current year. It decided to postpone the policy without stating the reasons, although the Ministry of Finance is ready for implementation, reports Al-Seyassah daily. The daily quoting a source noted …

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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 …

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‘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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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