Kuwait to implement selective taxation ranging up to 25%

Kuwait is planning to implement a selective tax on certain items like tobacco and its derivatives, soft and sweetened drinks, in addition to expensive goods, such as watches, jewelry and precious stones as well as luxury cars and yachts – instead of a value-added tax.

As per the studies, the taxation may range from 10 to 25 percent.

The tangible amount exceeds 7 percent, that is, if the added tax law is applied, this trend may create further price hikes.

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