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Sales, corporate income tax nearer
February 22, 2014, 7:34 am
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Minister of Finance Anas Al-Saleh has affirmed his ministry in fiscal 2013/2014 has undertaken two projects to apply the tax system in Kuwait — sales tax and corporate income tax, reports Al-Wasat daily. He indicated the total cost of the two projects is estimated at KD 35 million. He clarified the total cost of the first project — sales tax — is KD 15,680,000 whereas the total cost of the second project — corporate income tax — is estimated to be KD 19,250,000.

In another development, sources said the Cabinet plans to increase the salaries for 1,200 job categories. This step is aimed at increase the salaries of the low paid jobs to bring them in par with identical jobs for persons holding the same qualifications and work within the same authority. Sources confirmed that the current salaries will not be reduced whatever their level is. However, the difference will be paid in the form of compensations and allowances which will be granted to employees in line with their achievement, excellence and devotion to work.

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