Through Majd Othman

KUWAIT: Minister of Finance and Minister of State for Financial Affairs and Funding Abdulwahab Al-Rushaid issued a brand new resolution to introduce amendments to the listing of commissions for usufruct of state actual property assets, permitting the ministry to gather 30 p.c of the contracts concluded via subcontractors of state-owned plots.

Ministerial resolution answer No 107 of 2022 in regards to the modification of a few provisions associated with the usufruct rate for the subcontracting of state personal actual property assets and repair charges integrated changing the word “30 p.c of the price of annual funding contracts” to number of “30 p.c of the price of subcontracting” via the ministry.

In the meantime, some other resolution issued via Rushaid (No 108 of 2022) stipulates that the provisions of ministerial answer no. 40 of 2016 in regards to the legislation of charges for usufruct of state personal actual property assets and repair charges no longer follow to totally state-owned firms, and that those firms are exempted from paying the charges for usufruct of the state’s personal actual property.