Holy Smokes!
State eyes tax on Kuwaiti, expat high-earners
Assembly to get tax law amendments
Arab Times, KUWAIT CITY, July 28, 2010: The government is thinking of imposing taxes on high-income Kuwaiti and expatriate workers, while exempting the middle and low income citizens, which means about 90 percent of Kuwaitis will not be required to pay tax, reports Al-Arrouiah daily quoting a reliable source.
According to the source, the executive authority has amended the Tax Law and it will be forwarded to the National Assembly soon for approval. He revealed the amended law includes 75 articles distributed into four sections and it will be implemented in two phases, starting with the companies and then the individuals.
The source revealed the amendment will pave the way for imposing taxes on individuals — Kuwaitis and expatriates — with high income. He said the middle- and low-income citizens will be exempted, indicating the expatriates who hold valid residence permits up to 183 consecutive or non-consecutive days in a year are required to pay tax.
However, the source admitted the contentious aspect of the law, which is still subject to discussion, is the exemption on individual expenditure from family income — KD30,000 for unmarried persons, KD32,000 for those who are married, and KD34,000 for those who are married and have children. He stressed that exemptions for companies may cover profits from agricultural facilities and income from free trading in professional societies and syndicates for three years, as well as income from translation, writing and individual shares. He emphasized that income from state properties, industrial projects, and inherited or donated buildings will be exempted for five years.
http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/157430/reftab/36/t/State-eyes-tax-on-Kuwaiti-expat-high-earners/Default.aspx
Highly unlikely, I guess. Such a law would need the approval of the parliament and I don't think MPs would want to vote for a law that would tick off their voters.
ReplyDeleteI hope your right Mo Mo.
ReplyDeleteuggg, that's ridiculous!!! That's why people come over here to work, get away from taxes & make good money while doing it.
ReplyDeleteI hope it doesn't happen. Maybe it's just a small tax and only on the money we make over KD 30,000. Let’s hope it's not a tax on the entire amount.
ReplyDelete