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Kuwait denied new income tax bill
Kuwait, Economics, 9/8/1997
Kuwaiti officials from the Ministry of Finance denied yesterday that a new income tax draft bill might have been submitted to the parliament for approval and ratification.
Well-informed sources had reported recently that the Kuwaiti cabinet passed a bill which imposes a 5% tax on people whose incomes exceed 2,000 dinars ($6,600) annually, with the intention of raising the tax gradually to 30% on incomes of more than one million dinars per year.
Some MPs oppose taxing the income of the rich-oil-state's businessmen and individuals.
Previous Stories:
Ministry of education offers jobs to Kuwaitis
(8/29/1997)
Kuwait exports 30 million barrels of oil to South Africa
(8/21/1997)
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(8/12/1997)
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