MP wants to impose tax on money transfers of expatriates
Sunday, May 1, 2016
MP Faisal Mohamed Al-Kandari has proposed imposing tax on money transfers of expatriates, reports Arab Times daily. Al-Kandari pointed out the State of Kuwait hosts about three million expatriates who transfer money to their countries, which reached KD 19 billion in the last five years and this amount is equivalent to the national budget of Kuwait for one year.
The daily quoting him as saying, reported that imposing tax on such transfers will generate new income for the government, which will ensure better services for the expatriates and citizens. He disclosed the income from this tax will not be less than KD 20 million per year, taking into consideration the minimum amount transferred to other countries is about KD 2 billion per year.
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