Interview - Al Mahrous: Prices to witness 3% increase | KPMG | BH

Interview - Al Mahrous: Prices to witness 3% increase

Interview - Al Mahrous: Prices to witness 3% increase

Head of Taxes and Corporate Services in KPMG Fakhro Ali Al Mahrous said that there are around 100,000 commercial registers represent different companies and foundations in Bahrain. He added that between 55 and 60 thousands companies should be ready for applying the value added tax (VAT), also exempted companies from paying should not be exempted from VAT. He confirmed that the tax will not include basic food commodities and medicines. He commented on the statement issued by the under-secretary at the finance minister in UAE about applying VAT in January 2018 , that this is in the UAE, and should be unified between all GCC Countries.

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