Bahrain’s state legislature on Wednesday approved a bill to double the country’s Value Added Tax (VAT) from the existing 5 per cent to 10 per cent, Gulf Business reports.
The Shura Council; the upper house of the legislature, is expected to study the bill. If approved, the bill be put in force from January 1, 2022.
Bahrain, UAE and Saudi Arabia introduced a 5 per cent VAT. Oman joined the trio in April this year introducing a 5 per cent VAT on goods and services. Saudi Arabia last year tripled the VAT to 15 per cent while UAE ruled out any plans for VAT increase.
Bahrain set to double VAT to 10 per cent as parliament approves bill
