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Government speeds up taxation of harmful goods

Latest News Kuwait City 30 Nov 23
Government speeds up taxation of harmful goods
Kuwait government speeds up taxation of harmful goods.
Fee
Event Location
Kuwait, Kuwait
Area
Kuwait City
Start Time
30 November 2023, 12:00 AM
End Time
31 December 2023, 12:00 AM
Website

Kuwait government has formally requested the National Assembly’s prompt ratification of the Unified Agreement on the Tax of Harmful Goods within the Gulf Cooperation Council (GCC) nations. This move is part of the government’s preparation for the approval of the proposed law.

In a letter submitted to the Council, the government emphasized its commitment to the legislative agenda for the current session of the seventeenth legislative term. Notably, this agenda includes the consideration of the harmful goods tax law, as indicated in the submitted letter.

The Minister of Finance, in correspondence with the National Assembly, highlighted the urgency of expediting the excise tax for two key reasons. Firstly, it is crucial to fulfill the obligations of the State of Kuwait in accordance with the Unified Excise Tax Agreement. Secondly, there has been a growing concern about the smuggling of tobacco products and derivatives from Kuwait to neighboring countries due to the imposition of the excise tax.




Taxation of harmful goods