Kuwait debunks tax rumors on salaries, goods, services

KUWAIT: The Ministry of Finance of Kuwait has issued a statement dismissing recent rumours about imposing various taxes on salaries, goods, tickets, non-essential services, and entertainment.

In an official statement, the Ministry clarified that these claims are baseless and reassured citizens and residents that no such taxes are being introduced.

The Ministry took the opportunity to highlight its ongoing efforts to promote tax education in schools. Since 2005, the Ministry has been working in collaboration with the Ministry of Education to enhance tax and financial literacy among middle and high school students, said the statement.

This initiative, managed by the Tax Media Department within the Tax Administration, aims to build a financially literate society by educating students on taxation and financial responsibility through the program that is part of a broader partnership with state institutions to improve financial knowledge among the youth.

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Addressing concerns about the organisational structure of the Tax Administration, which has been circulating on social media, the Ministry said that the structure is based on the approved Administrative Resolution No. 404 of 2003. The Ministry assured that tax laws are applied consistently to both foreign and Kuwaiti companies, ensuring fairness and transparency in its operations.

Rumours about new taxes have caused some concern among the public. However, the Ministry’s categorical denial and clarification have helped to dispel these fears. The emphasis on financial literacy is a positive step towards creating a more informed and responsible citizenry.

By educating young people about taxes and financial management, the Ministry will be able to foster a culture of financial awareness and responsibility.

Financial experts say that the Ministry’s approach to addressing the rumours and its commitment to financial education is proactive and such initiatives are crucial for the long-term economic stability of the country. The Ministry’s efforts to ensure transparency and fairness in tax administration are also seen as vital for maintaining public trust.