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
- Trace of magic found in one of the graves
- 8,004 illegal residents
- 26,000 workers needed in Kuwait
- 172 arrested in Hawally
- Raising service fees for expatriates
- Kuwait again bans Bangladeshi workers
- Four guys arrested
- No Maids to Kuwait
- Snakes and monkeys found from the home
- Kuwait to launch insurance hospitals for expats
- Conditions & Exempted Jobs for getting a driving license
- Procedure to bring your child to Kuwait
- 3 Pakistanis, an Indian and a Bangladeshi arrested
- 16 Pakistanis arrested in Kuwait
- Kuwait advised to check your phones before travelling
- Move bachelors from Salwa
- Blast kills 10 in Philippine
- Saudi Arabia Announced the Eid al Adha
- Eid Al-Adha will be on Sept 11, 2016
- New Taxi and Bus fares (rates) in Kuwait
Filed in: All • Expats in Kuwait • Info • Local News • News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
