Bahrain approves draft VAT law

Monday, October 8, 2018

Bahraini legislators approved a draft law yesterday that would see value-added tax (VAT) imposed for the first time in the kingdom, state news agency BNA reported. The House of Representatives approved a Gulf agreement to introduce VAT after a royal decree ordered parliament to hold an extraordinary session yesterday, BNA reported, without giving details of the vote. The move came a few days after Bahrain’s wealthier neighbors Saudi Arabia, the UAE and Kuwait offered a $10 billion aid package to avoid the risk of a debt crisis in the country, which was also tied to fiscal reforms. 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 GCC agreement in 2018.

Express your comment on this article

 
Bajrangi Bhai
Monday, October 8, 2018
Acche din for Indians in Bahrain

Submit your comments...
     
Disclaimer: The views expressed here are strictly personal and IndiansinKuwait.com does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.

Community News
 

Maurya Kala Parisar, Kuwait held its Annual General Body meeting on December 7, 2018 at beautiful resort Villa in Khairan. ...

KKMA Karnataka Branch of Kuwait Kerala Muslim Association (KKMA), the largest social service organization of Indian expats ...

Federation of Indian Registered Association (FIRA Kuwait) official and Loka Kerala Sabha member Babu Francis submitted a m...

“Service to Humanity”, upholding its basic principle, Saradhi Kuwait conducted its 2nd phase of Flood Relief Fund Distributi...

IIT IIM Alumni Association pulls it off in style again, in succession with their associate partner, IBPC, Kuwait. IBPC has b...