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Bahrain: New tobacco and fizzy drinks levy on the way

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Plans to levy a 50% tax on fizzy drinks and 100% on tobacco have been approved yesterday. The proposed legislation to tax unhealthy products was endorsed during the weekly Cabinet session chaired by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa.

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier attended. The draft legislation is in compliance with the provisions of the Unified GCC Agreement on Excise Tax.

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In addition, the draft law stipulates ways of dealing with tax evasion, incurred penalties, refund of taxes, registration for the purpose of taxation and licensing of the VAT warehouse.

Source: Gulf Daily News



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