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Bahrain Publishes Law Increasing VAT Rate to 10% from 2022
Manama- January 04, 2022:
Bahrain has published Law 33 of 2021 in the Official Gazette, which provides for the increase in the standard VAT rate from 5 percent to 10 percent with effect from January 1, 2022.
Article 4 of the law includes a transitional provision for supplies under a contract concluded prior to 1 January 2022. This includes that the 5% rate will continue to apply for such contracted supplies until the contract expires, is amended or is renewed or lapsed post a year after the law is effective, whichever is earlier.