Finance ministry mulls imposing VAT

Monday, July 17, 2017

Ministry of Finance is considering the implementation of value added tax (VAT) on certain sectors, but is studying measures to minimize its impact on citizens.

Finance Minister Anas Al-Saleh said the ministry is studying alternatives to safeguard low-income people from the negative impacts of applying the economic reforms program following the slump in oil revenues.

The minister said the sharp drop in oil prices resulted in a massive decline in the state revenues, prompting the government to carry out economic reforms including diversifying sources of income. Accordingly, the government established the national program for financial and economic sustainability with the aim to reduce the budget deficit.


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expat
Posted on Tuesday, July 18, 2017

local mules cannot mull anything else !!! Imagine in 15 years time hardly any cars will be running on fuel as decided by many countries around the world. the price of petrol will come down to 10 dollars a barrel...... than what ? expats will also not be here to milk their pockets hahaha

ikhlakh
Posted on Tuesday, July 18, 2017

Pray that crude oil should rise up otherwise expart as well as kuwaiti will have to face more problems in future.

Pete
Posted on Sunday, July 16, 2017

There was a sharp increase in the rent which has already impacted the citizens and residents. Adding VAT will be another issue for them.
Some how the oil prices will go Somme day up but once a service is added then it will not be removed easily.
Somehow the real estate rents should be unified as per the services provided by the landlords.

sr
Posted on Sunday, July 16, 2017

Directly put vehicle road tax according to seating capacity & tonnage . Heavy vehicle tipper every three month tax system . All crane heavy impose road tax . this increase revenue a lot . study this matter .

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