Sunday , November 19 2017

Tag Archives: tax

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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‘Annual tax’ from Kuwaitis with American citizenship totals $20m – 63,000 American expats in Kuwait subjected to FATCA

KUWAIT CITY, Oct 15, (Agencies): With the application of Foreign Accounts Tax Compliance Act (FATCA) in Kuwait, 6,500 Kuwaitis with American citizenship will have to pay annual tax worth a total of $20 million to the US Treasury. A minimum tax of $ 2,800 is expected from the 200 Kuwaitis …

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Tax from firms KD 1billion

KUWAIT CITY, Oct 5, (KUNA): Finance Undersecretary Khalifa Hamadah said taxes levied by the State from companies operating in the country ranges between KD 800 million and KD one billion annually, according to the new taxes law. The Ministry will be handed the new taxes draft law from the International …

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Tax from firms KD 1b

KUWAIT CITY, Oct 5, (KUNA): Finance Undersecretary Khalifa Hamadah said taxes levied by the State from companies operating in the country ranges between KD 800 million and KD one billion annually, according to the new taxes law. The Ministry will be handed the new taxes draft law from the International …

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‘Tax scheme is still in early stages, imposition gradual’ – MEW ‘punishes’ MoE for not settling bills

KUWAIT CITY, Sept 30: Ministry of Finance has notified Ministry of Commerce and Industry that the tax sector is still in preparation to adopt the decisions taken for developing a tax system in Kuwait under the supervision of the World Bank, indicating that the tax system will be gradually implemented …

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‘Finance’ panel set to meet next week to draft law on business tax – MoSAL expected to close 2 violating wedding halls

KUWAIT CITY, Sept 28: A committee formed by the Finance Ministry will start meeting next week to draft a law on business tax, reports Al-Seyassah daily quoting sources. Sources revealed the committee will refer its report to the office of the finance minister to issue the law before the year …

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