VAT To Be Imposed In Kuwait
Category: Kuwait Local News

The government decided to impose value added tax (VAT) and to increase customs tariffs as part of measures to improve the gross domestic product of non-oil revenue under the continuing decline of oil prices and pessimism that overwhelms the statements of economic analysts, says Al-Seyassah daily quoting sources.

They added the recommendation presented by International Monetary Fund (IMF) to impose taxes on the earnings of companies will yield maximum of $1,000,000 only, which cannot fulfill the budget deficit.

It became imperative to resort to alternative sources of generating revenues through imposition of VAT and raising customs tariffs, the sources indicated.

16 Sep, 2015 0 1464
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Kuwait Local News
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