18 June 2005
Kuwait City - Any taxes targeting low and middle income individuals will be strongly rejected said Convener of the Parliamentary Finance Committee MP Abdulwahed Al-Awadi and Member of the Parliamentary Legislative Committee MP Ali Al-Hajeri.The government is facing a problem regarding the amendments it presented on the old tax law, said Al-Awadi, adding the Finance Committee will discuss these amendments during its meeting with the Deputy Premier, Minister of State for Cabinet Affairs and Minister of State for National Assembly Affairs Mohammed Daifallah Sharar, Minister of Finance Bader Al-Humaidhi, Minister of Commerce and Industry Abdullah Al-Taweel, Chairman of the Economic Committee in the Planning Supreme Council Nasser Al-Rudan and a representative from the Kuwait Chamber of Commerce and Industry.
Al-Awadi asked the government to accelerate submitting an application to discuss the tax law in Parliament, adding the issue should be studied carefully to find a suitable solution which would not adversely affect local companies or Kuwaiti agents of foreign companies. Agents will increase the price of essential commodities if the tax law is enforced he said, adding the best solution would be to implement a comprehensive tax law. The financial situation of the common man should be the government's prime consideration, pointed out Al-Awadi.
The tax law Number 3/1955 is outdated and weak and is applicable only to foreign companies and especially those in the oil sector, he said, adding no distinction was made between foreign companies and local ones when Kuwait signed the treaty with the World Trade Organization. The Finance Committee is trying to find a way to ensure that any amendment the government makes will not affect national companies and agencies, said Al-Awadi. If the government can fulfill this condition the committee and the parliament will support the amendments until a comprehensive tax law is issued, he concluded.
Kuwait City - Any taxes targeting low and middle income individuals will be strongly rejected said Convener of the Parliamentary Finance Committee MP Abdulwahed Al-Awadi and Member of the Parliamentary Legislative Committee MP Ali Al-Hajeri.The government is facing a problem regarding the amendments it presented on the old tax law, said Al-Awadi, adding the Finance Committee will discuss these amendments during its meeting with the Deputy Premier, Minister of State for Cabinet Affairs and Minister of State for National Assembly Affairs Mohammed Daifallah Sharar, Minister of Finance Bader Al-Humaidhi, Minister of Commerce and Industry Abdullah Al-Taweel, Chairman of the Economic Committee in the Planning Supreme Council Nasser Al-Rudan and a representative from the Kuwait Chamber of Commerce and Industry.
Al-Awadi asked the government to accelerate submitting an application to discuss the tax law in Parliament, adding the issue should be studied carefully to find a suitable solution which would not adversely affect local companies or Kuwaiti agents of foreign companies. Agents will increase the price of essential commodities if the tax law is enforced he said, adding the best solution would be to implement a comprehensive tax law. The financial situation of the common man should be the government's prime consideration, pointed out Al-Awadi.
The tax law Number 3/1955 is outdated and weak and is applicable only to foreign companies and especially those in the oil sector, he said, adding no distinction was made between foreign companies and local ones when Kuwait signed the treaty with the World Trade Organization. The Finance Committee is trying to find a way to ensure that any amendment the government makes will not affect national companies and agencies, said Al-Awadi. If the government can fulfill this condition the committee and the parliament will support the amendments until a comprehensive tax law is issued, he concluded.
By Bader Al-Omran
© Arab Times 2005
