Kuwait Postpones Vat Implementation

The State of Kuwait is reportedly intending to postpone the implementation of the Value Added Tax (VAT) until further notice. Sources from the Ministry Finance confirmed the postponement without revealing its duration or the alternative date for the levy scheme to take effect. “The VAT scheme will be postponed as the competent authorities are not yet prepared either logistically or technically”, the sources told Alrai newspaper. The National Assembly has yet to debate the VAT draft resolution and endorse it officially. Turkish Anadolu News Agency also quoted Kuwait Government sources saying that the 5 per cent VAT levy would be put off till mid-2018 to early 2019, according to Alqabas The Ministry of Finance in Oman has decided to postpone the implementation of the Value-Added Tax (VAT) system until 2019. Saudi Arabia and the UAE have confirmed the implementation of the VAT scheme as planned on the 1st of January.

SOURCE : GDNONLINE

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