The Bahraini Cabinet approved a draft law amending the value-added tax, and increasing it from the current 5% to 10%, starting from January 2022.
The Council referred the draft law amending the value-added tax to Parliament for approval.
The Bahrain government said in a statement on Monday that the annual growth of real GDP reached 5.7 percent in the second quarter of 2021.
Nominal GDP grew 20.7 percent on an annual basis in the April-June period, while non-oil GDP grew 12.8 percent, according to a cabinet statement, according to “Reuters”.
The Kingdom of Bahrain started applying value added on January 1, 2019 at the basic rate of 5% on all goods and services, with the exception of some goods and services that are subject to value added at 0% or those exempted from value added as specified in the value-added law and its executive regulations.
