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
- Part time job would be allow in 2015 , Kuwait
- Once Kuwait place had rain of 300mm in one and half hour , Kuwait
- Pink Friday Walkathon , Kuwait
- Learn From The Best , Kuwait
- Jumeirah Messilah to host Horeca Kuwait
- Bangladeshi workers back after 7-yr halt
- 5 Scenes Expo , Kuwait
- Kreate Art Movement , Kuwait
- Britain in Kuwait Exhibition
- Culturama Event , Kuwait
- Gulf countries to improve domestic workers’ condition
- 590 jobs for expats frozen , Kuwait
- Photos : Red Bull Bar Bahr , Kuwait @redbullkuwait @redbull
- Kuwait rejects India’s bank guarantee measure for recruiting domestic helpers
- Pakistan to get 90% of its gasoil supply from Kuwait
- Race Day , Kuwait
- 7 Market , Kuwait
- Air Ambulance in Kuwait
- Govinda (Indian Actor) in Kuwait by Art & Culture Asian Welfare Society, Kuwait
- Photos – Persian Music Night with Arshan , Kuwait
Filed in: All • Expats in Kuwait • Info • Local News • News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
