To increase the scope of income tax laws, GCC countries are pursuing tax determinations with significantly broader interpretations of activities or actions that constitute doing business in-country, according to experts.
Kuwait is studying proposals to introduce the same tax rates for local and foreign companies, Finance Minister Anas al-Saleh told reporters on the sidelines of a business conference on Monday.
"There is a list of taxes on loc
Saudi Arabia's Shura Council has rejected a move to impose tax on the income of individual expatriate workers in the public and private sectors, a report said.
The council made the decision after hearing the arguments for and against the p
Plans to set up an income tax office in the UAE are in the pipeline, India's Ambassador to the UAE, M K Lokesh, has said.
Lokesh confirmed that further to a decision taken by the Government of India, efforts are being made in this dir
Qatar issued an income tax law on Tuesday, which could make it the first Gulf country to tax the income of individuals. The official Qatar News Agency said the bill would take effect as of January 1, without giving details.
"Sheikh Tamim b
The six-nation Gulf Co-operation Council (GCC) has agreed in principle to implement corporate and individual income tax by 2012 and is now discussing ways to bring the deadline closer, said a news report, citing people close to the matter.
The Kuwait parliament has approved slashing of income tax from 55 per cent to 15 per cent.
Profits from stock trading, whether directly or through mutual funds, will also be totally tax-free providing the necessary fillip for foreign portf
Kuwait will eventually have to impose taxes on personal income, the Emir was quoted as saying.
"The service provided to nationals comes at a very high cost which can be shouldered by the state for some time but not all the time. There will