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Kuwait News - Business, Taxation & Offshore




Saudi Arabia Readies For Value-Added Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, July 26, 2017

Saudi Arabia has released draft regulations for the introduction of value-added tax for consultation, following recent approval of the tax framework from lawmakers.Read Full Story

 

IMF Praises Saudi Tax Reforms

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, July 24, 2017

Saudi Arabia has received praise for the International Monetary Fund for recent and planned indirect tax reforms, to broaden the tax base away from oil, but said the timetable for introducing value-added tax could be challenging.Read Full Story

 

 

UAE To Exempt Residential Property From VAT

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, July 17, 2017

The United Arab Emirates' Ministry of Finance has confirmed that residential property will be exempt from the Gulf Cooperation Council value-added tax when it comes into force in January 2018, but that a five percent rate will apply on sales or leases of commercial property.Read Full Story

 

Kuwait Signs OECD's Multilateral Tax Pact

by Ulrika Lomas, Tax-News.com, Brussels

Monday, May 8, 2017

Kuwait became the 110th jurisdiction to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters on May 5, 2017.Read Full Story

 

 

Qatari Cabinet Approves VAT

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, May 5, 2017

Qatar's Cabinet has approved the introduction of value-added tax at a five percent rate, as part of an initiative among Gulf Cooperation Council states.Read Full Story

 

Kuwait Central Bank Opposes Tax On Expat Remittances

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, May 5, 2017

The Governor of Kuwait's Central Bank has said he opposes calls to introduce a remittance tax in the country, saying that the measure would damage its economy and financial reputation.Read Full Story