Bahrain

Bahrain VAT launch by end of 2018

February 23rd, 2018

The Bahraini Finance Minister has confirmed the Gulf state’s plan to launch a 5% VAT regime before the end of 2018. The implementation date could be 1 October 2018.  “We’ll be working with parliament on VAT and aim to have everything set up by the end of 2018,” Sheikh Ahmed said. Bahrain, along with Kuwait, …


Bahrain

Bahrain launches 5% VAT October 2018

January 16th, 2018

Newspaper reports claim the Bahraini Ministry of Finance has confirmed that it will launch a 5% VAT regime on 1 October 2018.  Supplies subject to VAT will exclude health care, education and transportation.  There will be a VAT registration threshold of approximately $100,000. Bahrain will be the third member of the Arab Gulf Coordination Council …


Bahrain

Bahrain VAT enactment 2018

January 9th, 2018

Bahrain has committed to introduce a 5% VAT before the end 2018. The state was one of the six Gulf Cooperation states which signed the Unified VAT Agreement to introduce a harmonised VAT union.  Two of the states, Saudi Arabia and UAE, launched on 1 January 2018.  The other three, Kuwait, Oman and Qatar are …


United Arab Emirates

Arab Gulf VAT live today

January 1st, 2018

Saudi Arabia and the United Arab Emirates (UAE) have today become the two latest states to impose Value Added Tax on their consumers.  From midnight, 5% VAT became due on most transactions, including between companies (but with the right to reclaim). GCC 6 states and VAT In 2016, the six members of the Gulf Cooperation Council …


Bahrain

Bahrain VAT launch set back

November 5th, 2017

A key parliamentary committee, Financial and Economic Affairs Committee, in Bahrain has rejected latest tax reform proposals, including plans to introduce VAT. The rejected Bill included launching VAT in accordance with Bahrain’s sign-up to the Gulf Cooperation Council’s (GCC) Agreement on VAT.  The House of Representative committee vetoed it on the grounds that it contains sweeping …


United Arab Emirates

Gulf ready for VAT?

May 25th, 2017

As the six Arab Gulf states prepare for the launch of 5% VAT from 1 January 2018, many questions and concerns remain unaddressed. Legal Delays The principle concern is that no legislation has been published yet – although the GCC Unified VAT Framework Agreement has been published this month.  This risk will be compounded by …


Bahrain

Bahrain

May 24th, 2017

The decision by the Supreme GCC Council to implement VAT in the six GCC countries was taken in 2016. Keep up to date with the latest news and developments for Bahrain as they happen with VATlive.