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
- Infoconnect 2015 , Kuwait
- Gulf Run Cars Show at 360 Mall , Kuwait
- Kuwait Riders – Bikes Show , Kuwait
- Royal Cricket Academy , Kuwait
- Lecture on ” Use technology to make your life easier “
- 6th Blood Donation Drive by PBDIK on 30th Jan 2015
- The Exploitation of Expats in Kuwait
- Man entered in the restaurant without clothes
- Desert Run , Kuwait
- Lecture on The art of engagement at Beit al Sadu , Kuwait
- Lecture on Islamic Architecture , Kuwait
- The Marina Market , Kuwait
- Sony Bazzar , Kuwait
- Top ten nationalities (in expats) who violated the law in 2014 (via Arabtimes)
- Photos & Videos : Bohemia in Kuwait @iambohemia
- Blood Drive to save Life by Kuwait Riders (Blood Donation Camp)
- Over 30 years service expats to have terminated from jobs , Kuwait
- Attestation suspended of Bank Guarantee for “Indian Domestic Workers” In Kuwait
- Firework 2015
- Volkswagen XL1 in Kuwait
Filed in: All • Expats in Kuwait • Info • Local News • News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
