VAT to bring KD 600 million income

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VAT to bring KD 600 million income

Monday, August 21, 2017

The amount of tax income expected from imposing value added tax (VAT) and selective tax in the country is nearly KD 600 million, local media reported quoting Finance Ministry Undersecretary Khaleefa Hamada.

Evnthough this amount will not end the budget deficit, it will boost non-oil revenue, daily reported quoting him as saying.

According to report, VAT and selective taxes will be imposed as soon as they are approved by the National Assembly.

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deepak Wednesday, August 23, 2017 I feel instead of putting taxes on expats why not open up the country . They know oil prices are dwindling so my suggestion open up the country and allow free trades and increase tourism by being flexible in rules and regulations. Now is the correct time to open up the country for investors and bring flexibility in rules and if you dont do now you wont be able to in future because it will be too late. Take a e.g from Qatar allowing free visa at the airport. Be wise now or else suffer in future as other GCC countries are already gone far ahead of you.Even now it is not too late think wisely.
expat Tuesday, August 22, 2017 what will happen when expats are gone and the oil barrel becomes $20 dollars as all global cars will run with either electricity or liquified gas or solar power ???????? will they charge the locals with taxes ? Locals will great havoc than... hhahahhahah.. hope am alive to experience that !!! it will be the sweetest news to ever hear.
indian Monday, August 21, 2017 Great... now our PM can visit more countries & other planets in Solar system
Mulla Shabbir Bhai Hussain Ji Monday, August 21, 2017 TAX TAX TAX .
sr Monday, August 21, 2017 Good put tax on vehicle no vehicle is having road tax . Putt according to seating capacity & tonnage . All big vehicles three months tax . For new vehicles one time first tax up to fifteen years . Then others suv yearly tax . This will make more revenue.

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