Govt Plans To Impose Taxes On Expats Remittances

The government is planning to impose taxes on expats’ remittances and companies, local daily Kuwait Times reported. According to the latest report appeared on Kuwait Times daily, a special ministerial committee has already prepared a package of economic and financial reform legislation to be presented by the new Cabinet and referred to the new parliament in mid-December.

As per the report, the government aims to start executing its economic reform plan early and that it expects fierce confrontation in this regard with the new parliament. But it insists on pushing ahead with economic reform as the most important topic on the government’s agenda, along with security and the GCC security pact. The agenda is to impose a 10 percent tax on companies and a 5 percent tax on expats’ money transfers, the report added.

 

SOURCE : IIK

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