Recent Tax System in Bahrain
ďƒź Tax will be forced on organizations whose annual profits are up to 40 thousand dinars and more for every annum and expense rate would be calculated accordingly. ďƒź The Ministry of Finance additionally said that a tax collection system will be set up in the Kingdom of Bahrain and organizations with an annual income of US $ 100,000 should be required to register organization.
Updated Vat System in Bahrain
The Minister of Finance said in a meeting of the ministry yesterday that the Kingdom of Bahrain will be officially implementing VAT towards the beginning of October of this current year. A 5% VAT will be executed on various kinds of goods and services in the Kingdom. However, Health sector, Education and Transportation will be exempted from VAT. Tax System in Bahrain
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