Bahrain VAT launch by end of 2018
- Feb 22, 2018 | Richard Asquith
The Bahraini Finance Minister has confirmed the Gulf state's plan to launch a 5% VAT regime before the end of 2018. The implementation date could be 1 October 2018. "We'll be working with parliament on VAT and aim to have everything set up by the end of 2018," Sheikh Ahmed said.
Bahrain, along with Kuwait, Qatar and Oman, were due to introduce harmonised VAT systems at the same time as Saudi Arabia and the UAE. However, all three delayed the implementation of the new tax until 2019.
The news came despite an assessment last week by the International Monetary Fund that the state (as well as Kuwait, Qatar and Oman) would not be technically ready for VAT for at least another 18 months.