Bahrain Mirror: The Cabinet approved a draft-law on ratifying the Gulf Cooperation Council (GCC) Unified Selective Excise Tax, in the framework of its efforts to compensate the sharp decline in oil prices.

The law imposes a tax of 100 per cent on goods that are harmful to human health such as tobacco products, 100 per cent on energy drinks and 50 per cent on carbonated beverages.

The bill also regulates ways of dealing with cases of tax evasion, including the criminal penalties inflicted on them, tax retrieval, exemption cases, registration for tax reasons and licensing for the tax warehouse.

Bahrain took several measures to mitigate the damages caused by the oil price decline and lifted subsidies on energy and basic commodities like meat.

Arabic Version