Bahrain: Infrastructure Tax to be Reduced

Representatives of the NBB, BBK, Al-Salam Bank and the BiSB, in addition to those of the Information and e-Government Authority attended the meeting.
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Municipalities Affairs Undersecretary at the Ministry of Works, Municipalities Affairs and Urban Planning, Shaikh Mohammed bin Ahmed Al Khalifa, has held a meeting with a number of Bahraini banks participating in financing the fees of infrastructure projects.

The undersecretary updated the representatives of Bahraini banks about the progress of the executive procedures to reduce infrastructure tax from BD12 to BD10 per square metre, provided the fee is paid in full at the time permit is issued.

The undersecretary also informed attendees about the Cabinet’s approval of facilitating financing from commercial banks through the building permit system “Benayat” in instalments, while also keeping the option to pay in three instalments at a rate of BD12 per square metre.

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The move aims to stimulate investments and enhance the business environment in the kingdom.

 

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