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FinancialNews


  • 29-09-21

    Bahraini Kingdom considers increasing VAT to 10 percent to boost country’s revenues

    (MENAFN)According to Bahrain News Agency (BNA), Bahrain’s cabinet referred an outline law to Parliament that could witness value-added tax (VAT) boost from January 1 2022.

    Bahraini ministers postponed taking constitutional and legal measures to set an outline law altering some provisions of the value-added law to the legislative authority.

    In addition; whether VAT is set to increase or drop is not officially announced.

    The Bahraini Kingdom is taking into account increasing VAT to 10 percent to raise the country’s revenues and decrease budget shortfall, a parliament source and another close to the local government stated.

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