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
- Kuwait is going to participate in RC Championship #kuwait #ifmar #rc
- Kuwait’s first Graffiti park @cozmo_group @cozmospraybox #kuwait
- Kuwait VS Pakistan #daviscup #daviscup2015
- Eid Holidays in Kuwait #eid #kuwait #q8
- Kokani Song by Kuwaiti Singer
- Arrest Man Eating Live Animals (Via ArabTimes)
- Relief Efforts – Helping People In Need #kuwait #q8 #pakistan #reliefefforts
- New Bank Notes deposition in ATMs
- K’s path Quiz Night @kspathq8 #Kuwait #q8
- Camel attack on American Soldiers in Kuwait #kuwait #q8
- Mini Cooper GP Test Drive near 360 Mall #kuwait #q8
- 23 Memories Every 90’s Kid Growing Up In The Middle East #kuwait #q8 #uae
- Welcome Video – U.S. Ambassador to Kuwait @USEmbassyQ8 #kuwait #usa
- Bahrain’s Gulf Air to Kuwait from Istanbul #kuwait #turkey #gulfair
- No compound names for newborns (via Kuwait Times)
- 1st IBAK GCC invitational tournament to be held in Kuwait #kuwait #q8
- In 2025 Kuwait would be at 9th among highest GDP countries #kuwait #q8
- UAE and Kuwait have highest food security levels in region
- Crowd in Kuwait’s Fish market #kuwait #q8
- School fees in Kuwait #kuwait #q8
Filed in: All • Expats in Kuwait • Info • Local News • News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
