Kuwaiti expats have to pay tax on all money remittances sent abroad after Kuwait’s financial and economic affairs committee approved new bills, Kuwait News Agency KUNA reported.
In a statement, Committee Chairperson, Salah Khorshed, said that the commission had approved the bills for these new taxes which will be lower for low-income expats.
According to the new law, fees will be split among remittance categories as such:
Remittance up to SR 1,250 will be taxed 1%
Remittance ranging SR 1,250 — SR 2,500 will be taxed at 2%
Remittance ranging SR 3,750 — SR 6,250 will be taxed at 3%
Remittance above SR 6,250 will be taxed at 5%