- VAT in Bahrain generated BHD 794 million in 2021 and 2022
- Revenue from VAT reached approximately BHD 547 million by the end of 2022
- Increase in 2022 partially due to standard rate of VAT increasing from 5% to 10%
- Increase in business activity after lifting of Covid-19 restrictions also contributed to revenue growth
- Statistics revealed by Minister of Finance and National Economy, H.E. Sheikh Salman Bin Khalifa Al Khalifa
Source: assets.kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Bahrain"
- Bahrain Updates Global Minimum Tax FAQs and VAT Deregistration Manual for Enhanced Compliance
- Bahrain Updates DMTT FAQs and VAT Deregistration Guidance for Enhanced Tax Compliance
- NBR Releases Updated VAT Deregistration Manual with Step-by-Step Guidance
- MP Proposes VAT-Free Zone Near Khalifa Port to Boost Re-Export and Ease SME Cash Flow
- Bahrain Parliament to Debate VAT Exemption for Social and Youth Associations
