KUWAIT IMPOSES TAX ON EXPAT REMITTANCE

Kuwaiti expats have to pay tax on all money remittances sent abroad after Kuwait’s financial and economic affairs committee approved new bills, Kuwait News Agency KUNA reported.

In a statement, Committee Chairperson, Salah Khorshed, said that the commission had approved the bills for these new taxes which will be lower for low-income expats.

According to the new law, fees will be split among remittance categories as such:
Remittance up to SR 1,250 will be taxed 1%
Remittance ranging SR 1,250 — SR 2,500 will be taxed at 2%
Remittance ranging SR 3,750 — SR 6,250 will be taxed at 3%
Remittance above SR 6,250 will be taxed at 5%