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Kuwait - International Financial Advisors (IFA), listed on Boursa Kuwait and the Dubai Financial Market (DFM), on Tuesday announced it has gotten a final court judgment by the Court of Cassation to exclude KWD 1.76 million of total tax assessment on the company for fiscal years 2003, 2004, and 2005 for the National Labor Support Tax.
The financial impact of this court judgment will be reflected in the third quarter of 2019, IFA said in a bourse filing.
In May, IFA revealed it had suffered losses of KWD 4.21 million during the first quarter of 2019, up 112.6% from KWD 1.98 million in Q1-18.
Source: Mubasher
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