Kuwait 2nd globally as tax-free haven

This news has been read 2989 times!

KUWAIT CITY, Jan 31: The Zawya website has quoted a report issued by William Russell Company, which specializes in expatriate insurance, stating that Kuwait this year ranked second globally on the list of 12 countries that exempt residents from taxes. Kuwait scored 6.49 out of 10 scores, reports Al-Rai daily. The report stated that Kuwait is the fourth cheapest country on the list to rent an apartment in, with the average cost reaching about 775 US dollars per month, and it is also the second cheapest country in terms of monthly costs and public service bills, in conjunction with Brunei. The average net monthly salary in Kuwait is about $2,743.

For its part, the UAE ranked fourth globally as a tax-free haven for expatriates. With an average monthly cost of about 3.59 thousand dirhams and an average net monthly salary of 13,015, the UAE outperforms other countries that do not impose taxes. Oman ranked first in the list of the most affordable tax-free havens for expatriates, as it has the lowest monthly costs of living and ranks third in terms of the cheapest country in terms of monthly utility bills, which amount to about 386 dirhams, followed by Kuwait and Bahrain in second and third places.

This news has been read 2989 times!