The IMF report considers that growth-friendly fiscal consolidation is required to strengthen sustainability. From next year fiscal consolidation should focus on increasing non-oil revenue and increasing capital expenditure to increase potential economic growth. The report suggests further revenue measures including the introduction of the Gulf Cooperation Council (GCC) excise taxes and value added tax (VAT).
Source: essentiaglobalservices.com
Latest Posts in "Kuwait"
- Kuwait Keeps VAT Off the Table: No Adoption in the 2026–2030 Fiscal Plan
- Kuwait Sets Clearance Rules for GCC Authorised Economic Operators
- Kuwait Launches Pre-Clearance for Goods at Land Ports
- Kuwait Switches to Electronic Stamp Duty Collection for Customs Declarations
- Kuwait Bans Export of Subsidized Basic Goods
