Kuwait MP submits bill to impose tax on expat remittances: Report

Published: Updated:
Enable Read mode
100% Font Size

A Kuwait member of parliament has submitted a bill to impose a tax on expatriate remittances, according to a report by local media.

For all the latest headlines follow our Google News channel online or via the app.

Kuwaiti newspaper Arab Times reported earlier this week that MP Osama al-Menawer submitted the bill, which mandates banks and financial institutions that process expat’s remittances to collect tax on money transferred out of the country.

The newspaper reported that the tax amount would be no lower than “five percent if the transferred amount exceeds 50 percent of the annual income of the expatriate worker,” adding that Kuwait’s Ministry of Finance will specify the exact amount.

The MP also reportedly followed up on a previous decision issued, calling for the termination of contracts of expats above the age of 60, according to Arab Times.

In August, Kuwait’s Ministry of Interior was set to limit the number of vehicles expats can register, as security sources said many own several cars and practice unlicensed trading and selling of vehicles.

According to a report, hundreds of expats in Kuwait own more than fifty cars each, as they practice the trade of buying, selling and leasing, without a license to do so, which prompted the General Traffic Department to study the legalization of limiting expat car ownership.

In March, it was reported that over 200,000 Kuwait-based expatriates lost their residencies in one year after being stranded abroad and unable to return to Kuwait due to the coronavirus pandemic.

Read more:

Kuwait: Over 200,000 expats lose residency permits in one year

Kuwait to limit number of vehicles expats can register under their name

Kuwait minister launches initiative to regulate expat workers, ‘change demographics’

Top Content Trending