Bahrain generated BD250 million last year from Value Added Tax (VAT) – up by BD100m compared with budget estimates of BD150m.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa revealed the VAT revenues during a meeting with Parliament’s financial and economic affairs committee.
“The increase, which averaged 70 per cent, reflected the strength of the national economy,” said committee chairman Ahmed Salloum.
He added that purchasing power and investments had not been affected.
In a statement to Akhbar Al Khaleej, Mr Salloum said the increase reflects the compliance of companies which are registered with the National Revenues Bureau.
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