Exemption From Rents For The Branches Invested In Cooperatives In 4 Stages

The Ministry of Social Affairs announced its plan to exempt initiators owners of branches invested in cooperative societies from the monthly rental value, according to 4 stages.

The Undersecretary of the Ministry Abdulaziz Shuaib said, in a circular to the Association of Associations, that the first phase includes the period from March 22 until before the imposition of the total ban on May 9, during which the branches are exempted from the rental value by 50% for the activities permitted to practice by the municipality, and 100% for the activities not permitted To her, in implementation of the municipality decision (2020/703) regulating the activities authorized to operate during this period.

Shuaib explained that the “second” includes the period from 10 to 31 May, during which the total ban was imposed, as it was decided to exempt all activities from rent with 100%, pointing out that all activities were exempted in the “third” from early June to 30 August by 50%. With the exception of those who are not allowed to practice the activity, they are 100% exempt, such as hairdressing salons and tailors’ shops. He pointed out that the “fourth” begins as of the beginning of this month, during which the full rental value will be paid to all branches.

 

Source: Kuwaitofferings

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