CBB Confirms VAT Exemption for Financial Services
2018-12-26 - 8:45 م
Bahrain Mirror: The Central Bank of Bahrain confirmed that Article 54 of the Value-Added Tax Law (VAT Law) stipulates that the provision of financial services specified by the Regulation shall be exempt from the application of VAT. This exemption shall not apply in respect of specific fees, commissions or commercial discounts.
Therefore, banking transactions will not be subject to VAT either on loan interests, deposits or withdrawals from accounts either cash or cheques, including withdrawal and deposit through ATMs, as well as transferring or receiving of any transactions with cash or any financial bond or banknotes or any payment orders in addition to the exemption of Islamic financial products provided in accordance with approved contracts.
- 2023-11-25S&P Revises Bahrain's Outlook to "Stable" on Fiscal Deficit Worries
- 2023-07-13Haj Sumoud Transferred from Dry Dock Prison to Al-Salmaniya Emergency Department after His Health Deteriorated
- 2023-06-22Bahraini Mumtalakat Buys Saudi McLaren's Stake
- 2023-05-18After Allocating $5 Billion Investment Fund, Is Bahrain Waiting New Saudi Support?
- 2022-09-21Abu Sa'afa Field Revenues Reach One Billion, 33 Million BD, Its Revenues Expected to Increase by 40% this Year