KUWAIT 2 April 2018: The Parliament’s financial and economic affairs committee in Kuwait on Sunday approved bills stipulating fees on expatriates’ financial remittances to abroad.
Kuwait News Agency (Kuna), quoted MP Salah Khorshed, the committee chairperson, as saying in a statement that the commission approved the bills with consent of two thirds of the members, provided that the taxes to be imposed on money transfers of low-income expatriates must be low.
He forecast proceeds amounting to US$233 million out of the fees on these remittances, estimated at $63 billion per year, said Wam..
The committee rapporteur, Saleh Ashour, stated that the panel discussed the issue extensively in consultation with legal experts.
According to proposed laws, the fees to be imposed on the KD90 dinar salary category would be at 1 per cent; the KD100-200 segment 2 per cent, the KD300-499 segment 3 per cent and the KD500-1,664 segment 5 per cent.