Bahrain: VAT and increase in price dampen Valentine’s Day celebration

The increase in Value Added Tax (VAT) from 5% to 10% along with the price rise of the yellow metal led to a decline in gold sales on Valentine’s Day in Bahrain.

Every year in the Kingdom, Valentine’s Day has been an important day the sales calendar for all jewellery houses. Unlike the previous years, presenting a Valentine’s Day gift in gold or jewellery proved to be a little expensive affair for many yesterdays as the gold price stood at BD21.9 per gram apart from the increase in VAT.

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