By Majd Othman

KUWAIT: Minister of Finance and Minister of State for Economic Affairs and Investment Abdulwahab Al-Rushaid issued a new decision to introduce amendments to the list of commissions for usufruct of state real estate property, allowing the ministry to collect 30 percent of the contracts concluded by subcontractors of state-owned plots.

Ministerial decision resolution No 107 of 2022 regarding the amendment of some provisions related to the usufruct fee for the subcontracting of state private real estate property and service fees included replacing the phrase "30 percent of the value of annual investment contracts" to collection of "30 percent of the value of subcontracting" by the ministry.

Meanwhile, another decision issued by Rushaid (No 108 of 2022) stipulates that the provisions of ministerial resolution no. 40 of 2016 regarding the regulation of fees for usufruct of state private real estate property and service fees not apply to fully state-owned companies, and that these companies are exempted from paying the fees for usufruct of the state's private real estate.