Showing posts with label US. Show all posts
Showing posts with label US. Show all posts

Wednesday, June 10, 2015

Kuwait to table corporate tax bill in 2 years - finance minister


LONDON, June 8 (Reuters) - Kuwait expects to table a bill to harmonise corporate tax rates between local and foreign firms in around two years' time, offering incentives to key sectors like telecoms and IT, the country's finance minister said on Monday.
Kuwait said in April it was studying proposals to introduce the same levy for domestic firms, which generally pay little or no tax on income, and foreign companies, whose commercial activities are taxed with a rate of 55 percent in the highest bracket. 

"We are looking at many, many scenarios ... but we are definitely looking at matching them," Finance Minister Anas al-Saleh told Reuters on the sidelines of a conference in London. 

"We need to draft legislation ... in 24 months we should have a law that can go to parliament." 

Saleh expected the rate for international firms to fall and the levy on local companies to rise, though he declined to indicate a level. He added the government was also looking at introducing tax breaks for companies operating in key sectors like IT, telecommunications and petrochemicals. 

"There will also (be) incentives, incentives to encourage corporates to focus on certain sectors that are needed for our economy," he said. 

Introducing a new corporate tax will be politically sensitive in Kuwait, which has seen pressure on its state finances because of the plunge in oil prices. Officials say they want to diversify revenue sources beyond oil. 

Saleh reiterated there were no plans to introduce income tax for individuals. 


citation : taken from zawya - https://goo.gl/4jAxyZ

Monday, April 18, 2011

Debt: Obama Plays Down S&P Outlook Change - CNBC

Debt: Obama Plays Down S&P Outlook Change - CNBC

  • When Credit Rating Agencies Downgrade other it is their economic acumen and financial models unfortunately when they take shot at US then it become political.


  • It will not work much, US may buy some time before it it is really discredited and corrupted but TIME of US is gone.


  • US must shape up, clean up and shut up if they want to servive.


  • All super power was destroyed because of their arrogance before. There will not be any exception. Their is no other way out than cleaning the toxic from system, if toxic is not cleaned, dooms day is not far away. The police of US for dis crediting S and P is not in its favor but no one will trust rating agenciea and they should not be trusted.



  • Soon ---------------- JUNK BOND........................ US TREASURY............. STATUS JUNK