KUWAIT: Deputy Prime Minister and Minister of Finance Anas Al-Saleh said there are no government plans to impose taxes on individuals. The government is only considering imposing taxes on national and foreign companies, Saleh told Al-Rai newspaper yesterday.
The minister also noted that value added tax would not be applied in Kuwait until an agreement was reached among GCC countries to apply in all GCC member states as per the recommendations of the International Monetary Fund (IMF). Meanwhile, the official said that any tax law must be passed by the National Assembly.
Moreover, he stated that government subsidies on items and services need reforms, adding that it should only be provided to those in need to reduce government spending. As for following in the UAE’s footsteps in lifting subsidy on fuel, Saleh said that the ministry is awaiting the results of a study conducted by a consultative body on the consequences of lifting fuel, electricity and water subsidies. — KUNA