A parliamentary proposal has been submitted to impose a five per cent tax on the net profits of companies operating in Bahrain to generate more than BD100 million for the state budget, Parliament Speaker Ahmed Al Musallam has revealed.
The money could be used to cover the shortfall in subsidies for electricity, water and fuel, and to prevent any increases that would burden the middle and low-income classes, he said as he received in his office Akhbar Al Khaleej Editor-in-Chief Anwar Abdulrahman.
“While there is a broad understanding of the country’s limited resources and the difficulty of meeting certain living demands due to financial and other constraints, we always emphasise that citizens remain the top priority of the state and its institutions,” Mr Al Musallam noted.
“Parliament is working diligently to support all segments of society, especially those with limited income, in constructive co-operation with the government and the Shura Council, to meet aspirations and address needs,” he affirmed.
The Speaker expressed deep appreciation for the spirit of co-operation and co-ordination with the Shura Council, chaired by Ali Saleh Al Saleh. “We see a genuine commitment from all sides to serve the nation and its citizens. Even when views differ, each council carries out its responsibilities according to its mandate and convictions, with mutual respect binding us together,” he said.
He also described Parliament’s relationship with Bahrain Chamber as strategic and based on co-operation, co-ordination and complementarity.
He stressed Parliament’s full support for the development of the economic, commercial, industrial and investment sectors in Bahrain to drive national economic growth and create more quality job opportunities for citizens.
“There are always regular co-ordination and joint meetings to discuss various issues,” he said, expressing hope for greater collaboration in the future.
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