The price hikes on goods globally as a result of the and the negative repercussions of supply and supply chains will not be an objective justification for stopping the government’s actions regarding improving the regulatory and legislative environment for the tax sector, or disrupting work on draft laws on value-added taxes and selectivity or the Uniform Tax Procedures Law.
Reliable sources told a local Arabic daily that proceeding with the financial and economic reform processes cannot be stopped or held hostage to any global changes, as the trend for reform is inevitable in light of the structural problems in the national economy, not to mention that the application of some taxes comes within the framework of the international commitment, but it enters into force after the approval of the National Assembly.
The sources stated that the rise in oil prices will also not be a reason to stop or postpone reform plans, as it is a favorable opportunity for the state to move forward with reforms at a faster pace in light of alleviating a lot of pressure on the government after the rise in oil revenues. It is metaphysical and not guaranteed, which consequently necessitates not shelving the reform plans.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
