Tuesday , October 23 2018

Tag Archives: tax

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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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 …

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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, …

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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, …

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Tax rise on firms eyed; subsidy ‘rationalization’

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, …

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Kuwait to study raising fees for services – 14-day product return in Consumer Law

DUBAI, Nov 22, (Agencies): Kuwait’s government is studying whether to raise fees for its services, Finance Minister Anas al-Saleh said in comments published by the local Al-Rai newspaper on Sunday. Saleh said the study was part of a project to rationalise spending, review subsidies and diversify sources of revenue. “It …

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Barring public health services will hurt expatriates most – ‘Taxing income unfair, harsh’

In this week’s Arab Times online poll, readers responded to which measures would be most hurtful to the expatriate community in Kuwait, with the majority perceiving that barring public health services would affect them the most. While the World Health Organization states that Kuwait has one of the most modern …

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Panel rejects bill to impose fees on expats remittances – MP files grilling against minister

KUWAIT CITY, Nov 15: The parliamentary Legislative and Legal Affairs Committee on Sunday rejected a bill submitted by MP Kamel Al-Awadhi to amend the Central Bank of Kuwait Law in order to impose five percent fee on the remittances of expatriates. Speaking to reporters after the committee meeting, Rapporteur MP …

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GCC must ‘impose’ taxes in order to strengthen their fiscal positions

DUBAI, Nov 15: ICAEW members and guests gathered at The Oberoi in Dubai recently (Nov 4) to discuss how fiscal reform will affect businesses in the GCC countries. Panellists included Jeanine Daou, Partner and Head of Indirect Taxes at PwC; Gary Dugan, Managing Director – Global Wealth, CIO and Head …

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