April 2018
Remittance Tax in Kuwait: Is it coming finally?
First Take Report
Pages : 5
Executive Summary
The Parliamentary Financial and Economic Affairs Committee of Kuwait has approved bills for imposing tax on remittances of expatriates, based on their income level. The tax rate suggested starts at a modest 1% for remittance under KD99 and goes all the way to 5% for remittance beyond KD500. Remittance outflow from Kuwait in 2016 stood at KD 4.6bn (USD 15.3bn) with nearly 27% of that sent to India, followed by Egypt at 18%, Bangladesh at 7% and Philippines and Pakistan at 3% each.Table of Content
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