Kuwait may impose taxes on luxury items and tolls tax on some highways
Kuwait is looking into imposing taxes on luxury items and introducing tolls on some highways as new sources of fiscal income that will help avoid budget deficits. Other measures being mulled over by the northern Arabian Gulf states include a review of the pricing of goods and public services, and of the fees collected by the state for services and land rental, Kuwaiti daily Al Rai reported on Sunday.
Currently, most public services are offered for free while goods are subsidised. A lift of the subsidies, partial or full, would boost non-oil income for the state, the daily added. The government might also impose taxes on all companies, instead of confining them to non-Kuwaitis. Kuwaiti companies would thus contribute to the cost of the goods and services subsidised by the state such as water and electricity as well the infrastructure. The companies will also contribute to paying the cost of the services provided by the state to their expatriate workers.
The plan also includes the introduction of a value-added tax (VAT) that will help limit the propagation of an extravagant lifestyle with a negative impact on families and a high risk of crippling debts. Under the plan, the government could introduce a toll on some highways, with the collected money used to repair and enhance the road infrastructure and for maintenance.
Kuwait will also work on collecting all arrears dues from Kuwaitis and expatriates, and could impose fines on those who do not pay the state on time. A new culture to honour financial commitments and to pay bills and fines on time will be introduced, Al Rai said.
Source : Gulf News
Kuwait News
- Events in Kuwait
- Founder Institute Kuwait Chapter brings “How to Find the Right Partner”
- Mother’s Day Dinner & Music Night at Sadu House
- Celebrate 3rd Aniversary in Fitness First in 360 mall , Kuwait
- Mother’s Day at Gate Mall , Kuwait
- Supermoms get together | Events in Kuwait
- Girls stealing from cars in Jaber al Ahmed area, Kuwait
- 12 Asian expatriates arrested for manufacturing liquor
- A Play : Our Deal With The Italians | Events in Kuwait
- Marlon Wayans , Tony Woods and Godfrey in Kuwait
- Flydubai Flight 981 crashes on landing at Rostov-on-Don, Russia
- 1100 expats will be asked to leave the Kuwait
- 10000 Fake Kuwaiti Dinar caught in Kuwait
- 50 women caught in jleeb for unethical activities
- 200 workers in private sector sent to Prosecution
- Police arrested maid for dumping newborn baby in garbage
- Panel forms to “change rent law”
- Kuwait seizes 7 million pills in drugs bust
- Asian hang himself in garage in shuwaikh , Kuwait
- Kuwait approved 10% corporate tax
- Innovation leader Microsoft Kuwait to host “Innovation Bazaar”
Filed in: All • Expats in Kuwait • Info • Local News • News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
