- VAT in Bahrain has boosted revenues by six percent in 2023
- Revenues from VAT increased by 122 percent in 2022 when it was doubled from five to 10 percent
- VAT is a vital source of non-oil revenue in Bahrain
- Around 100 basic commodities are exempted from VAT to offset impact on low-income citizens
- VAT is linked with all economic measures in Bahrain
- Companies owed BD68,892 to the Social Insurance Organisation and their government services were suspended until payments were made
- The SIO’s investments witnessed a 2.1 percent increase in 2022 and 4.2 percent gross profits in 2023
- Commitment to continue pension payments to former MPs, Shura Council members, municipal councillors, and Capital Trustees Board members who took up their roles before lifetime pensions ceased in 2018.
Source: zawya.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
