5 Percent Tax On Expat Remittance - Kuwaiti MP
Category: Kuwait Local News
5-percent-tax-on-expat-remittance---kuwaiti-mp_kuwait

A Kuwaiti lawmaker said expatriates should pay a tax of up to five per cent on remittances from Kuwait. He said Kuwait is dealing with financial consequences of the downfall in the price of oil and a tax on remittance would make a new source of revenue for the state.

A revenue of at least KD20 million annually is believed to be generated, if such a tax is implemented, he said.

He based his calculations on the premise that the minimum annual remittance figures in Kuwait were KD2 billion.

Al Kandari said, “Imposing the remittance tax in a fair and just way would help the state improve the standards of services.”

 

SOURCE : GDNONLINE

03 May, 2016 0 3253
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