Bahrain on course to implement VAT from January 1 2019

Article published by and copyright of KhaleejTimes.com

Bahraini legislators approved a draft law on Sunday that would see value-added tax (VAT) imposed for the first time in the kingdom

The bill is yet to be approved by the parliament’s upper house, which is expected to hold a similar session later this week.

Introducing VAT at a 5 percent rate was part of a Gulf Cooperation Council (GCC) agreement in 2018, a big step for governments that have traditionally levied little tax and relied instead on oil revenues.

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