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MANAMA: A new guideline has been issued for businesses and financial institutions to prepare for the doubling of Value Added Tax (VAT) from five per cent to 10pc, from Saturday.
The National Bureau of Revenue issued the guideline – VAT rate change transitional provisions guide – which states that with effect from January 1, 2022 the revised tax on goods and services will be imposed after the Amended VAT law was published in the Official Gazette on Friday .
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