The Bahrain skyline.
PHOTO BY ARCHIVE
DUBAI – Bahrain on Sunday approved a draft law for value added tax (VAT), according to state news agency BNA.
If approved by parliament’s upper house, the law will see VAT imposed for the first time in Bahrain.
In an extraordinary session on Sunday, the House of Representatives approved a Gulf Arab agreement to introduce VAT.
Part of a GCC agreement in 2018 is the introduction of a 5 percent VAT, which is already being imposed in the UAE.
Bahrain’s move to approve the VAT bill came a few days after the UAE, Kuwait and Saudi Arabia offered a $10 billion debt relief aid to Bahrain. GAD/Expat Media
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