GCC and UAE Finance and Investment News: Kuwait 'looking' at ...

The Kuwaiti government intends to include taxes in the upcoming budget, reports Al-Watan Arabic daily quoting a reliable source.

The source disclosed the government is studying the possibility of imposing income and value added taxes. He said the government has sought assistance from the World Bank on tax-related issues, mechanism for tax collection, and ways to include taxes in next year?s financial plan.

The source added the World Bank has started conducting training courses for the concerned workers at the Ministry of Finance in preparation for the approval of the tax draft bill. The government will also launch media campaigns to raise awareness on tax collection and focus on obtaining support from the majority in the Parliament to push for the ratification of the bill. However, the source did not mention other details, such as the target date of implementation and the categories of people or firms which will be required to pay the income tax.

* username: rupertbu

Source: http://rupertbumfrey.blogspot.com/2011/08/kuwait-looking-at-taxes-in-next-years.html

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