Bahrain - His Majesty King Hamad ratified and issued a law approving the agreement between Bahrain and the UAE on eliminating double taxation on income taxes and preventing tax evasion and avoidance.

The law was enacted following its approval by the Shura Council and Parliament. The agreement, attached to this law, was signed in Dubai on February 11, 2024.

His Majesty ratified and issued another law on the approval of the Digital Co-operation Organisation Charter, following its approval by the Shura Council and Parliament. The charter, attached to this law, was signed in Manama on November 23, 2020.

The Prime Minister and ministers, each in their capacity, shall implement the provisions of this law, which shall take effect the day after its publication in the Official Gazette.

The King also issued a decree amending Article One of Decree (17) of 2021 on the restructuring of the Finance and National Economy Ministry, based on the proposal of the Finance and National Economy Minister and following the approval of the Cabinet.

The decree stipulated that a new clause (5) shall be added to paragraph (D) of (5th) in Article One of Decree (17) of 2021 on the reorganisation of the ministry, as follows: “5- A number of human resources and financial directors shall be designated according to their appointment and transfer mechanism to undertake the tasks of shared financial services in government entities.”

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).