Latest News
- Kuwait-Jordan Durra Field Joint Statement Rejected By Iran
- GTD Cracks Down On Vehicle Noise Pollution In Sulaibiya
- Mystery Of Dead Fish At Shuwaikh Beach Sparks Urgent Action
- MEW To Complete Links With The Interior And Justice Ministries B...
- 8 Expats Jailed For Bribing An Officer To Obtain Driver's Licens...
- Weekend Weather Is Expected To Be Hot
- From Tomorrow, Traffic Diversion On Third Ring Road
- Ministry Of Health Refute Rumors On Non-availability Of Antibiot...
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
Vat To Be Imposed In Kuwait
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.
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Gathering For Eid Al-Fitr Prayers: Kuwaiti Citizen...
10 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
Comments Post Comment