AP: Bahrain's House of Representatives Approves Value-Added Tax
2018-10-08 - 6:25 p
Bahrain Mirror- AP: Bahrain's House of Representatives has approved a bill allowing for value-added tax to be collected, sending it onto the National Assembly's upper chamber, the Shura Council.
The state-run Bahrain News Agency reported that the lawmakers' decision Sunday came during an extraordinary session.
Once approved by the Shura Council, it must be implemented by King Hamad to take effect.
The valued-added taxes, or VAT, are part of a push by members of the Gulf Cooperation Council to launch the tax. Saudi Arabia and the United Arab Emirates already implemented the 5-percent taxes in January.
The island kingdom of Bahrain has seen its economy suffer in recent years, adding to its simmering political unrest. It just received a $10 billion pledge Thursday from Kuwait, Saudi Arabia and the United Arab Emirates.