Air India

 

MP Hashem push to approve a draft law to impose taxes on expat remittances

 

 

The new head of the National Assembly’s financial and economic affairs committee MP Safa Al-Hashem said yesterday lawmakers will push to approve a draft law to impose taxes on expat remittances. The bill was approved by the committee in the previous term even though the legal and legislative panel said the law was not in line with the constitution and following objections from the ministry of finance and the Central Bank.

The law calls for imposing a progressive percentage of up to five percent on all remittances by expatriates after a number of lawmakers complained that expatriates were sending most of their money to their home countries. Expatriates in Kuwait are not allowed to buy property or launch small businesses, as these activities are restricted to citizens and big foreign investors. This is one of the reasons most expatriates prefer to send their money back home.-K.T.

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