Bahrain approves widening VAT relief for projects

Tax exemptions to cover development projects financed by loans

  
Vat Text With Coins And Calculator On Table Against White Background. Image used for illustrative purpose.

Vat Text With Coins And Calculator On Table Against White Background. Image used for illustrative purpose.

Getty Images

The Cabinet yesterday approved a memorandum from the ministerial committee for financial and economic affairs and fiscal balance regarding the widening of Value Added Tax exemptions to cover development projects financed by loans, to further support Bahrain’s efforts in financing strategic development projects.

Chaired remotely by Deputy Premier Shaikh Mohammed bin Mubarak Al Khalifa, the weekly Cabinet meeting congratulated His Majesty King Hamad and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince Prime Minister, and citizens on National Day and the anniversary of the King’s accession to the throne.

The meeting also praised Bahrain’s wide-ranging development strides, led by the King.

His Majesty’s directives to provide Covid-19 vaccine free to all citizens and expatriates was given an accolade.

The Health Ministry was directed to fast-track measures to launch the national vaccination plan.

© Copyright 2020 www.gdnonline.com

Copyright 2020 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

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.

More From GCC