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Tax in GCC ‘by 2013’ 27, April 2010

Posted by thegulfblog.com in Kuwait, The Gulf.
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The Arab Times reports that a ‘reliable source‘ in Kuwait’s Ministry of Finance stated that all GCC countries will introduce a range of individual and company taxes by 2013.

Whilst this is an obvious long-term necessity, getting GCC nationals to see things this way is another matter. Kuwait in particular with its über populist Parliament more used to pushing through £4 billion of debt relief for their already inordinately rich population than discussing tax will have severe issues, I expect, even broaching the topic. One senior Kuwaiti and high-profile businessman told me that the T word is just ignored as it will prove to be such an incendiary topic.

In short, I just cannot see, for example, a Kuwaiti paying personal income tax in the coming decade. Here’s hoping I’m wrong.

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