- October 9, 2018
- Posted by: VatMan
- Category: Press Room
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.