Implemention Of Value Added Tax Vat Law

He anticipated the government will do away with implementing value added tax (VAT) law since the parliament has rejected it. “This is possible, even though the government has carried out several procedures toward its implementation and common decision taken with other GCC countries at this time of unstable and dwindling oil prices”.

Talking about the economic strategic partnership with the US, Al-Othman disclosed that Kuwait is among the countries that issue least American bonds worth about $31 billion compared to countries like China whose bond reaches $1.2 trillion based on the global reports of 2016. He stressed the value of Kuwaiti-American investments in Kuwait is about $300 million, while the investments of Kuwaitis in America have reached $1.5 billion. He reiterated the investments are in diverse sectors, including real estate, retail, technology and capital markets.

 

SOURCE : ARABTIMES

 

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