Several businessmen have commended the introduction of a Domestic Minimum Top-up Tax (DMTT) for multinational enterprises (MNEs) operating in Bahrain with global revenues surpassing 750 million euros.

They told our sister paper Akhbar Al Khaleej that the decree law outlining the new tax is a step in the right direction as it will protect Bahraini traders and contribute to developing the kingdom’s economic infrastructure.

Bahrain Chamber chairman Sameer Nass has affirmed that the new tax has not been imposed on Bahraini companies, which will further boost their capabilities and give them priority in the development and sustainability of their work.

He said that the tax will help address the challenges of tax base erosion. “Applying the tax to MNEs further enhances the kingdom’s commitment to the standards of combating tax evasion and demonstrates Bahrain’s keenness to fulfil its commitment with the Organisation for Economic Co-operation and Development (OECD) towards meeting the international standards for tax transparency,” he noted.

“Bahrain Chamber will remain a strong supporter of all steps aimed at achieving multi-dimensional growth that aligns with the development goals,” he stressed, pledging to spare no effort to ensure sustainability of the national economy.

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