Excise Tax Update – Kuwait
Excise Tax Update – Kuwait
Tax policies have increasingly been used as a tool to change consumers behavior. Excise tax has been a popular initiative in most countries, aimed at discouraging the consumption of certain goods that are typically deemed harmful to public health.
In 2016, the GCC member states have signed a GCC Unified Excise Tax Agreement which sets out the key principles for the imposition of excise tax. Except Kuwait, all GCC countries have ratified the above agreement and introduced their domestic excise tax laws. Based on various media reports, Kuwait is planning on introducing excise tax in the country soon. Our team has prepared the below Frequently Asked Questions (FAQ) document which describes the mechanics of excise tax, the likely impacted goods as well as entities and ways BDO can help.
Download The Document Here
Please feel free to contact us if you have any questions.
In 2016, the GCC member states have signed a GCC Unified Excise Tax Agreement which sets out the key principles for the imposition of excise tax. Except Kuwait, all GCC countries have ratified the above agreement and introduced their domestic excise tax laws. Based on various media reports, Kuwait is planning on introducing excise tax in the country soon. Our team has prepared the below Frequently Asked Questions (FAQ) document which describes the mechanics of excise tax, the likely impacted goods as well as entities and ways BDO can help.
Download The Document Here
Please feel free to contact us if you have any questions.