Kuwait’s taxes charged from firms total USD3.3b

07 Oct 2015

(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.

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