Mubasher: The finance minister and deputy prime minister of Kuwait, Anas Khaled Al Saleh, noted that the value-added tax (VAT) will develop a wide financial change in Kuwait, according to his interview with Arabian Business.
“I wouldn’t lean on [VAT] too much. There is so much tightening we can do within the system that would pay us more,” he stated, according to Arabian Business.
The finance minister clarified that he has deferred plans to introduce corporation tax, as part of worries that it could place Kuwait at a competitive disadvantage unless the GCC states impose it simultaneously, Arabian Business added.
The GCC countries are expected to implement the VAT starting from January 2018.
The minister’s present focus is top-down government rationalision, he said, according to Arabian Business.
