A PLANNED increase in private sector fees, which was due to come into effect next month, has been delayed until March next year.
This followed a meeting between officials of the Industry, Commerce and Tourism Ministry and the Bahrain Chamber of Commerce and Industry (BCCI) today.
A ministry statement said both parties had agreed that the new fees for Commercial Registrations (CRs) which were to be implemented from September 22 will now be postponed for six months, until March 31.
"This will enable the BCCI to review the situation of small traders to reduce the impact of the hike in fees and promote awareness on the issue,” said the statement.
In the past, business owners paid BD50 annually to the ministry to renew a CR, which was significantly increased, with some sectors facing a 20-fold hike.
Businesses will also have to pay separate charges for each business activity under their CR such as auditing, sale of food and beverages, building construction and agriculture.
A government panel was formed following directives from His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, who received an urgent appeal from the BCCI last week to address concerns raised by the business community.
Read the full report in tomorrow's GDN