Implementation of Value Added Tax ("VAT") in the Kingdom of Bahrain
The Kingdom of Bahrain has now confirmed the introduction of Value Added Tax ("VAT") effective from the 1st of January 2019 at a standard rate of 5% with certain supplies subject to a 0% rate.
The Ministry of Finance ("MoF") has recently released Decree-Law No. 48 for the Year 2018 promulgating the Value Added Tax Law ("VAT Law") in the Kingdom of Bahrain. The Executive Regulations which will determine the rules and procedures for implementing the VAT Law are to be released in due time this month.26-12-2018