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Kingdom of Bahrain
Taxes in Bahrain
Kingdom of Bahrain introduced VAT in the year 2019 as a signatory of GCC common VAT agreement which was signed by all the GCC counties in the year 2016.
Implementation of VAT in Bahrain is done in phased manner. Apart from VAT, Excise Tax & customs are applicable in Bahrain, no Corporate Income Tax law so far.
Value Added Taxes
VAT in Bahrain
The VAT introduced in the Kingdom of Bahrain as per the concept of GCC common VAT agreement and different rates of taxes are applicable on different types of supplies (mentioned below)
Rates of VAT in Bahrain
· Exempted: Supply of Financial Services (other than fees-based services) and supply of bare land and buildings
· Zero Rated:
o Export of Goods and services
o International Transportation
o Healthcare services & medicines
o Education services
o Precious metals (i.e. Gold, silver & platinum), pearls and gemstones
o Local transportation sector
o Oil and Gas sector
o Construction of new building
o Basic food items (as per the specified list)
Note: Zero rated supplies are to be determined as per certain conditions provided in the VAT regulations
Standard Rated: VAT 10% (VAT 5% up to 31st Dec 2021)
The threshold limits for VAT registration are:
- Mandatory registration – Annual Taxable turnover more than BHD 37,500.
- Voluntary registration – Annual Taxable turnover/expenses between BHD 18,750 and BHD 37,500.
Various taxes in the Bahrain
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