Bahrain: No Changes on VAT Rate

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“There is no amendment to the value added tax (VAT) except by law,” confirmed the Chairman of the Finance and Economic Affairs Committee.

The chairman explained that the percentage of VAT (5%) was specified in the text of Article Three of Decree Law No. (48) of 2018. He noted that any desire to increase would require changing the legal article according to the available constitutional tools.

It is noteworthy that the Kingdom of Saudi Arabia raised the VAT rate from 5% to 15% starting from the first of July 2020. It also decided to stop living allowance starting from June 2020. The UAE said that it didn’t intend to increase the VAT percentage.

READ  VAT Insights for Businesses

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