Bahrain launching VAT regime 2018.
Bahrain has confirmed that it will follow in Saudi Arabia and The UAE's footsteps, and introduce a VAT regime in 2018.
The Bahraini Ministry of Finance confirmed that it will be launching a 5% VAT regime on 1st October 2018. The 5% rate will apply to areas such as telecommunications, water & electricity, luxury goods, real estate and many more. There will be a VAT registration threshold of approximately $100,000.
Bahrain will be the third member of the Arab Gulf Coordination Council (GCC) to implement the harmonized indirect tax. We recently reported on Saudi Arabia and UAE launching their VAT regime on the 1st January 2018. Other members may launch in 2019.
If you have any questions about the new VAT regime in the Gulf region, and how it may impact you, get in contact with our team of VAT experts today!
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