Webinar recording
Deloitte held a 45-minute webinar on 25 November surrounding the anticipated VAT increase in Bahrain, while providing valuable insights to businesses to help them prepare for the potential impacts of the transition.
As per our understanding, the Kingdom of Bahrain is planning to double the standard rate of Value Added Tax (VAT) from 5% to 10% with effect from 1 January 2022. While the National Bureau for Revenue (NBR) has yet to make an official announcement, the proposed rate increase is part of the economic improvement plans following the impact of Covid-19 on the economy and the Fiscal Balance Program.
This is a major and unprecedented step-change in Bahrain tax policy, which will impact businesses, governmental organizations and consumers alike.
In light of the above, Deloitte hosted a 45-minute webinar on Thursday, 25 November 2021 where our experts explored the following topics: