(MENAFN) Kuwaiti Finance Undersecretary said taxes charged by the State from companies operating in the country ranges between USD2.64 billion and USD3.3 billion annually, according to the new taxes law.
The Ministry will be handed the new taxes draft law from the International Monetary Fund (IMF) by next December, and will be reviewing it during three to four months, the minister said.
Meetings held between the Ministry and the IMF concluded that it would be senseless to impose taxes on individuals while collecting annual taxes of 10 percent, after it was 15 percent on companies.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.