A LIST of goods and services that will be exempt from Value-Added Tax (VAT) has been confirmed.
The following exemptions are stated in the Official Gazette, details of which were made public yesterday.
They are included in the 79-article VAT bill, which was approved by parliament and the Shura Council this week.
A new National Agency for GCC Taxes has also been formed by a Royal Decree issued by His Majesty King Hamad under the Finance Minister, although it will operate separately from the Finance Ministry.
It will be headed by a chief executive and responsible for implementation of tax policies, inspections, fines, punishments and monitoring.
- The oil sector, petroleum and gas extracts,
- Import and supply of food items
- Export of locally manufactured commodities to countries that don’t have VAT,
- Much-needed products under certain conditions
- Transportation of all types to and from Bahrain, whether it starts in Bahrain, passes through or ends in Bahrain, besides all associated services
- Local transport
- Reshipping of items brought to Bahrain to repair or reprocess, besides work charges
- Export of services and products subject to VAT, from businesses in Bahrain to individuals in Bahrain, which will be used in countries that don’t apply VAT
- Healthcare supplies and related services
- Importing and supplying medicines and medical equipment
- Importing and exporting silver, gold and platinum for investment purposes (on the condition it has 99pc purity and could be used for other purposes on certification from the Industry, Commerce and Tourism Ministry) and also the first supply following the extract of the three metals for commerce purposes
- Import and supply of pearls and precious gems, following evaluation of its nature and intended use
- Supplying educational services, products and related issues for nurseries, kindergartens, pre-school, basic, secondary and higher education
- New construction and building, as well as the sale and rental of plots and buildings
- Providing financial services, except for particular services that will be stated separately
- Imports of goods already taxed by other GCC countries, for diplomatic or military purposes
- Furniture brought into the country from abroad by Bahrainis and expatriates coming to live in Bahrain for the first time
- Personal luggage and gifts carried by passengers
- Equipment, services, care and other requirements of people with disabilities
- Import and supply of food items
- Export of locally manufactured commodities to countries that don’t have VAT,
- Much-needed products under certain conditions
- Transportation of all types to and from Bahrain, whether it starts in Bahrain, passes through or ends in Bahrain, besides all associated services
- Local transport
- Reshipping of items brought to Bahrain to repair or reprocess, besides work charges
- Export of services and products subject to VAT, from businesses in Bahrain to individuals in Bahrain, which will be used in countries that don’t apply VAT
- Healthcare supplies and related services
- Importing and supplying medicines and medical equipment
- Importing and exporting silver, gold and platinum for investment purposes (on the condition it has 99pc purity and could be used for other purposes on certification from the Industry, Commerce and Tourism Ministry) and also the first supply following the extract of the three metals for commerce purposes
- Import and supply of pearls and precious gems, following evaluation of its nature and intended use
- Supplying educational services, products and related issues for nurseries, kindergartens, pre-school, basic, secondary and higher education
- New construction and building, as well as the sale and rental of plots and buildings
- Providing financial services, except for particular services that will be stated separately
- Imports of goods already taxed by other GCC countries, for diplomatic or military purposes
- Furniture brought into the country from abroad by Bahrainis and expatriates coming to live in Bahrain for the first time
- Personal luggage and gifts carried by passengers
- Equipment, services, care and other requirements of people with disabilities
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