Manama: A draft amended law on the Value Added Tax (VAT) is to be referred to the legislative authority to be scrutinised.

If cleared by the legislature, the amended tax on goods and services would come into effect on January 1, 2022.

The bill of law was unveiled during the weekly session, at Gudaibiya Palace, chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.

The Ministerial Committee for Financial and Economic Affairs submitted a memo, assessing the performance of the Fiscal Balance Programme since it was first launched in 2018.

The memo shed light on impact of the Covid-19 pandemic on global economy and finance, suggesting options to balance government’s spending and revenues.

The session valued the role of the legislative authority to ensure subsidies benefit citizens, stressing continued joint efforts to bolster financial stability.

© Copyright 2020

Copyright 2021 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.