National Bureau for Revenue (NBR) chief executive officer Rana Faqihi affirmed that the initiatives approved by the Cabinet, which is chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, will contribute to strengthening ongoing efforts to ensure Bahraini nationals are the preferred choice for employment.
Ms Faqihi explained that the draft corporate income tax law, which will be referred to the legislative authority, proposes a 10 per cent tax on the profits of local companies with annual revenues exceeding BD1 million or net annual profits exceeding BD200,000, applied only to profits above the BD200,000 threshold .
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