No VAT on Constructing Residential, Commercial and Industrial Buildings and Real Estate Services
2018-12-27 - 12:14 am
Bahrain Mirror: Minister of Works, Municipalities Affairs & Urban Planning Essam Khalaf explained that residential, commercial or industrial buildings would not be affected by VAT as well as the construction services were construction or planning permission services.
Khalaf stressed the need to take all necessary measures not to add value to the cost of building new buildings.
For his part, Mohammed bin Khalifa Al Khalifa, Chief Executive Officer of the Real Estate Regulatory Authority (RERA), said that the authority is following the implementation of VAT to ensure that it is not charged to the real estate sector fees.
Mohammed bin Khalifa added that not subjecting real estate services to VAT makes it easier for citizens and beneficiaries to make use of the services of this sector and provide better opportunities for investment in this field.