The Institute of Chartered Accountants of India (ICAI), Kuwait Chapter, along with Al Mulla International Exchange Company (AMIEC) co-hosted an exclusive event ‘Indian Budget 2020’. The event was exclusively for members of the ICAI Kuwait Chapter and esteemed guests of AMIEC. Mr Pravin Singh, Divisional General Manager Al Mulla exchange Company, and CA Sai Deveta, Chairman of ICAI Kuwait, welcomed the esteemed gathering and introduced the speaker, CA Dr. Girish Ahuja, who is a renowned author of Direct and Indirect Tax and a teacher was the guest speaker.

Mr. Ahuja explained the recent NRI taxation proposal and discussed the fears related to it. He touched on the Dividend distribution tax and newly introduced TCS applicability on tour packages while making foreign trips and explained the double tax avoidance treaty between India and Kuwait. This was followed by an engaging Q&A session.

He also touched upon the fact that the tax regime is now being simplified to welcome investments from Sovereign wealth funds and other foreign investors.

Next on the agenda was a farewell message to CA Aditya, Treasurer of ICAI Kuwait by CA Deepak Bindal, the secretary of ICAI Kuwait followed by a vote of thanks by CA Kaizar Shakir, Vice Chairman of the ICAI Kuwait. The members and guests were then treated to a sumptuous dinner to conclude the intellectually stimulating evening.

The Chapter is a professional association of Indian chartered accountants with a strength of more than 500 plus members and its objective is to provide its members with professional and social networking opportunities. It regularly conducts continuing professional education programs and various sports and social activities for benefit of its members. The Chapter would like to thank its annual sponsors Al Mulla Exchange, Focus Net, 360 Realtors, BDO and NBK for their support.

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