MP eyes tax on remittances
MP Osama Al-Shaheen affirmed that billions of dinars exiting the local economy annually, and has reached nearly KD21 billion according to estimates of the last five years, and mentioned that imposing fees on remittances at a rate of 2.5 percent will possibly save the state at least KD100 million annually.
Al-Shaheen said, in a press statement, that MPs Dr. Hamad Al-Matar, Dr. Abdulaziz Al-Saqabi, Khaled Al-Otaibi, and Shuaib Al-Muwaisari, proposed the bill to impose fees on remittances to countries outside Kuwait, as it would provide an added advantage to the local market, create new jobs, boost economies and fields of work in Kuwait.
Good morning, everyone.
My name is Carter Burwell, and I serve as Counselor to the Secretary for Terrorism and Financial Intelligence at the United States Department of the Treasury.
I am sorry to be giving these remarks remotely, and that we all could not be together in person.
But in this unusual time of virtual events and social distancing, it is nice to see so many people gathered together who are interested in the Treasury Department’s work.
I want to thank The Washington Institute, and especially Matt Levitt, for inviting me to speak and for the kind introduction.
For years, The Washington Institute has put out tremendous work on various threats posed by illicit actors.
‘2.5 percent regardless of currency’ KUWAIT CITY, Jan 11: MPs Osama Al-Shaheen, Hamad Al-Matar, Abdulaziz Al-Saqaabi, Shuaib Al- Muwaizri and Khalid Al-Otaibi have submitted a bill on taxing remittances. Al-Shaheen disclosed the bill aims to enhance the public budget, contribute to ongoing ef
1/4/21
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Streamline the advertising and cash solicitation requirements under the newly named “Investment Adviser Marketing Rule” (numerous long-standing no-action letters will be withdrawn);
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