- Bahrain’s National Bureau for Revenue (NBR) expanded its zero-rated VAT list to include 118 essential food items
- The update aims to reduce financial strain on consumers by exempting basic goods from the standard 10% VAT rate
- The expanded list includes meat, fish, vegetables, fruits, cereals, grains, coffee, tea, dairy products, and more
- The government’s initiative targets sectors impacting households most significantly to improve consumer welfare
- The detailed list with Harmonized System (HS) codes offers transparency and simplifies compliance for businesses
- Bahrain’s commitment to shielding essential goods from tax burden and supporting consumers’ purchasing power is highlighted
- The expansion is expected to have a positive impact on low-income households grappling with inflationary pressures.
Source: mailchi.mp
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.
