Reservation Against The Implementation Of FATCA
Category: Kuwait
-reservation-against-the-implementation-of-fatca_kuwait

Strategic Consultant at Ernst &Young Company, Executive Member and Head of the Coordinating Committee for American Business Council in Kuwait Abdul-Aziz Al-Othman affi rmed that American companies in Kuwait have reservation against the implementation of FATCA, reports Al-Nahar daily. Al-Othman explained the reservation is based on implementation of the law on the US companies only, while companies of other countries do not pay tax. He said the procedure is detrimental to the competitive capability and reduces profi t margin. He declared that many US citizens resident in Kuwait and other GCC countries are against the Justice against Sponsors of Terrorism Act (JASTA), because it affects their interests in Kuwait.

 

SOURCE : ARABTIMES

 

16 Jan, 2017 976
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