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Bahrain Shura Council ratifies Doubling of VAT
Manama- December 23, 2021:
Bahrain Shura Council, the upper house of the National Assembly, approves the draft law to double VAT to 10 percent in the country.
The Gulf’s smallest economy is seeking ways to cut spending and bring its budget back to balance in 2024.
Besides approving the VAT bill, MPs in Bahrain approved increasing social welfare and support allowance by 10 percent. Under the new social welfare system to be implemented from January 1, a low-income Bahraini would receive BD77 monthly, a couple would receive BD132 up from the current BD120, and each child BD25 (unchanged) but with the BD150 cap removed for the total given to a family.