Kuwait axes expat 5% tax remittance bill

Kuwait is set to scrap a draft law to impose 5% tax on expats for remittances sent to their home country after the kigom's Chamber of Commerce and Industry voiced concerns about the negative impact the added tax would have. The GCC is known for a heavy dependence on expatriates in many sectors of its economies and analysts warned that taxing remittances would force expats to find alternative methods of sending funds home, a concern mentioned by the Central Bank of Kuwait. Sources have told local news outlet Kuwaiti Times that parliament has dropped the bill on taxing expat remittances...