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

Why Do India need such Friend?

India getting roughed up by Americans: Top scientist on visa rulesRead more at:
New Delhi: Annoyed with the US visa rules, CNR Rao, the Science Advisor to Prime Minister, has threatened to boycott visiting the US. Mr Rao has been affected by the US visa norms that allow a one year visa to some Indian scientists, as opposed to the earlier five-ten year multiple entry visa.Clearly unhappy with the annual pilgrimage scientists are forced to make to the American Embassy, Mr Rao said, "India is getting roughed up by the Americans."Mr Rao, a frequent visitor to the US for the past 50 years has been hit by the visa norms for three years now. Speaking to NDTV, he said, "I find it very insulting to go through this each year. I am sick and tired...may never go to America again after my current visa expires."
The Minister of State for Science Ashwani Kumar lodged a protest with US President Barack Obama's Science Advisor John P Holdren after the issue came up during the recent Indo-US strategic dialogue, calling the visa rules a bottleneck that impedes free scientific exchange.The US Embassy in New Delhi has not said why this is happening, however, President Obama's Science Advisor told NDTV, "I understand visas are a problem...we hope to improve."

NSG decision not end of the road: Nirupama Rao

New Delhi: India has said that the recent decision of the Nuclear Suppliers' Group on transfer of sensitive technology was "not the end of the road" and the new rules, which are not in the public domain yet, need to be studied before drawing any conclusion.
"First of all let me say that these guidelines have not been published in open text as yet. We need to study that more fully and we need to draw our conclusions from that," Foreign Secretary Nirupama Rao told Karan Thapar on "Devil's Advocate" programme on CNN-IBN.
On former Atomic Energy Commission chairman Anil Kakodkar's remarks that the new guidelines amounted to "betrayal", she said she would not use similar terminology.
"As a professional engaged in this process, I think the latest NSG decision is not the end of the road. It is not set in stone," Rao said.
The NSG last week decided to push for more stringent norms that govern technology transfer for enrichment and reprocessing technology. This decision has raised concerns about its impact on the landmark civil nuclear deal India signed with the US.
The Foreign Secretary indicated that India could leverage its burgeoning nuclear power sector.
"The whole issue of full bilateral civil nuclear cooperation, the fact that India has the potential to develop 60,000 MW of electricity from nuclear energy by 2030. So, this is a dynamic process. We have an expanding nuclear industry. This is a great attraction to the rest of the world," she said.

NSG all set to up-end India's clean waiver

NEW DELHI: Barring last minute objections, the Nuclear Suppliers Group (NSG) is set to approve new guidelines for the transfer of “sensitive” nuclear material that will do undo the hard fought “clean” waiver India obtained in 2008 from the cartel's restrictive export rules.
At stake is India's ability to buy enrichment and reprocessing technology and equipment (ENR) from NSG members. Under the terms of a landmark September 2008 agreement, the NSG waived its catch-all requirement of full-scope safeguards as a condition for supply in exchange for a concrete set of non-proliferation commitments by the Indian side. This agreement means NSG members are allowed to sell any nuclear equipment and material they want, including ENR, to India despite the fact that it does not allow international supervision over all its nuclear activities and is not a party to the Nuclear Non-Proliferation Treaty.

AMAR SINGH WHO SAVED CONGRESS, the poor friend ?


Amar Singh Being Framed: Mulayam

New Delhi, Jul 24 (IANS): Samajwadi Party chief Mulayam Singh Yadav Sunday came out in support of his former party general secretary Amar Singh, saying he was being "framed" in the cash-for-votes scam of 2008.
Addressing a press conference here, Mulayam Singh showed sympathy towards his ex-colleague, who was expelled from the the party after the relations between the two turned sour.
"Injustice is being done with Amar Singh. It is a conspiracy to trouble him and he is being framed in the case," he said.
"What was the benefit for us? Was the Samajwadi Party being included in the government? Were we getting ministers posts?" he asked.
Amar Singh has been alleged to be involved in the cash-for-votes scam of 2008 after his former aide Sanjeev Saxena was found involved in transfer of money to some MPs. The MPs alleged they were paid the money to abstain from voting in the trust vote sought by the then Manmohan Singh government, after the Left's withdrawal of support.
Amar Singh was quizzed by the Delhi Police's crime branch Monday.
"Amar Singh is being trapped, he is innocent," reiterated Mulayam Singh. "We only voted to save the government."

http://www.ndtv.com/article/india/amar-singh-s-questioning-in-cash-for-votes-scam-unfair-mulayam-singh-121676

http://timesofindia.indiatimes.com/india/Mulayam-comes-out-in-support-of-Amar-in-cash-for-vote-scam/articleshow/9345856.cms

http://expressbuzz.com/opinion/columnists/bribery-and-the-art-of-scapegoat-hunting/297192.html

THE IS ......................................

India do not need such friends who can ot be trusted.