Bahrain: Region-wide VAT advances, GCC countries | KPMG | GLOBAL

Bahrain: Region-wide VAT advances, Gulf Cooperative Council (GCC) countries

Bahrain: Region-wide VAT advances, GCC countries

The Kingdom of Bahrain in February 2017 announced the signing of a unified agreement for value added tax (VAT) and selective tax in the Gulf Cooperation Council (GCC) countries. This follows approval of the region-wide VAT regime by the cabinet of the Kingdom of Saudi Arabia in late January 2017.

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In Bahrain, the agreement needs to complete the legislative and constitutional processes before it can enter into force. Bahrain will establish a separate authority to administer VAT.

  • The unified rate of VAT would be 5% on the supply of goods and services.
  • VAT would not apply with respect to certain basic food items, pharmaceutical products, and medical supplies.

 

Read a February 2017 report [PDF 73 KB] prepared by the KPMG member firm in Bahrain

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