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Citizens and residents spent 23.9 billion dinars in 6 months

Wednesday, July 31, 2024
Citizens and residents spent 23.9 billion dinars in 6 months

Spending by citizens and residents in Kuwait reached a new high during the first half of this year, after it increased by 5.6%. The total amount spend by the citizen and resident during the first half of this year reached 23.97 billion dinars, an increase of 1.28 billion dinars, compared to 22.69 billion dinars in the same period in 2023.

Citing the data issued by the Central Bank of Kuwait, local Arabic daily Al Anba reported that the total spending of citizens and residents through direct purchases amounted to 9.2 billion dinars by the end of last June, while the value of cash withdrawals through ATMs amounted to 5.15 billion dinars. The amount spent online during the period reached 9.6 billion dinars.


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freeware
Sunday, August 4, 2024
If they will reduce the dependent visa salary limit,More boom will come.

Hope it happens.

Syed
Sunday, August 4, 2024
Subject: The Importance of Taxation for National Development

Regarding the recent report indicating that nearly 24 billion dinars have been spent in Kuwait over the past six months. This substantial figure presents a unique opportunity for our government to consider the potential benefits of implementing a modest tax rate.

Imagine the impact if the government were to impose a tax of just 1% on this amount. Such a measure would generate approximately 24 million dinars over six months, translating to a monthly income of around 4 million dinars. Over the course of a year, this would amount to an impressive 48 million dinars. This revenue could be instrumental in addressing various infrastructural needs within our nation.

The allocation of these funds could significantly enhance the maintenance and development of our roads, bridges, and street lighting systems. As we are all aware, the state of our infrastructure is crucial not only for the safety and convenience of our citizens but also for the overall economic development of Kuwait. Well-maintained roads and bridges facilitate trade, improve access to services, and enhance the quality of life for all residents.

Furthermore, the introduction of a tax system could foster a sense of shared responsibility among citizens. When individuals and businesses contribute a portion of their earnings to the public coffers, it cultivates a collective investment in our nation’s future. This shared responsibility can strengthen the bond between the government and the public, promoting a culture of civic engagement and accountability.

It is essential to consider that the implementation of a tax does not necessarily equate to a burden on the citizens. Instead, it can be viewed as an investment in the community. By clearly communicating how tax revenues will be utilized for public goods and services, the government can enhance public trust and support for such measures. Transparency in budgeting and spending will reassure citizens that their contributions are making a tangible difference in their daily lives.

Moreover, a well-structured tax system can also provide the government with the financial flexibility needed to respond to unforeseen challenges, such as economic downturns or natural disasters. Having a stable revenue stream allows for better planning and resource allocation, ensuring that essential services are maintained even in difficult times.

In conclusion, I urge the government to consider the implementation of a modest tax rate on expenditures, which could yield significant financial benefits for our nation. The potential revenue generated could be pivotal in maintaining and improving our infrastructure, ultimately enhancing the quality of life for all Kuwaitis.



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