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A few months back, a proposal to tax expat remittances has been passed by the Kuwait Parliament Financial Affairs and Economic Committee, imposing a tiered system of taxation according to the amount of remittances an expat is generating. However, in recent news, the government has taken a different direction and has put more emphasis on [...]

In a meeting last March 24, the National Assembly’s Economic Affairs and Financial Committee appeared to heavily favour the approval of proposals on imposing taxes on expat remittances despite objections based on financial and constitutional grounds. According to MP Salah Khorshid, Head of the Economic Affairs and Financial Committee, the panel has decided to defer [...]

Kuwait gears up to implement VAT in 2018

In a bid to preserve economic stability, governments in North Africa and the Middle East are already exploring new taxation systems to increase national funds and assets, according to experts at the Chamber of Commerce last Dec. 17. Mr. Alok Chugh, a tax advisory specialist from Ernst and Young (EY) revealed that as part of [...]