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Bahrain 1 Jan 2019 VAT Bill passes

  • VAT
  • 07 October 2018 | Richard Asquith

Bahrain 1 Jan 2019 VAT Bill passes

Updated 8th Oct: the parliaments, Upper House has passed the Bill tonight. Royal Assent is now a formality within the next week.

Bahrain’s parliament lower house has passed today the implementation of a 5% VAT regime from 1 January 2019. The House of Representatives approved a Gulf Arab agreement to introduce VAT after a royal decree ordered parliament to hold an extraordinary session on Sunday without giving details of the vote.

The Upper House will scrutinise the VAT Bill this week coming.

Bahrain is facing a challenging fiscal deficit, with the threat of a debt default, and has been offered $10 billion bailout from Saudi Arabia and the UAE. The Gulf state had signed up to implement VAT along with the five other member states of the GCC. To date, only Saudi Arabia and the UAE have introduced VAT at the start of 2018.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.