Kuwait to implement selective tax

  • 03/04/2023

Kuwait City, April 3: The government has announced that the Finance Ministry has prepared the executive procedures to replace Value Added Tax (VAT) with Selective Tax. Selective tax will become the first choice of tax collection, eliminating the option of imposing VAT. Even in major industrialized countries, VAT was avoided due to growing fears of inflation. Its results are reflected in Kuwait and the region.

Going ahead with such a tax system at this time would lead to a sharp rise in prices. And the consumer will not be able to bear its weight.The value of proposed tax is around 10% to 25%. It is expected that 500 million dinars per year will come to the government through the introduction of the Selective Tax. It will not affect the middle class as it will target luxury items more.

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