Kuwait denied new income tax bill

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.