EDB: No Corporate or Income Taxes on Foreign Companies
2021-03-25 - 7:59 am
Bahrain Mirror (Exclusive): The Bahrain Economic Development Board (EDB), general body responsible for developing and supervising Bahrain's economic development strategy, is promoting to companies abroad that they don't have to pay corporate and income taxes.
An announcement published on its official website indicates several privileges to be offered to foreign companies to encourage them start or transfer their commercial activities to Bahrain, including not imposing taxes on corporates, personal income, wealth, profits or capital.
"The Government of Bahrain does not collect taxes from companies that do not work in the oil and gas industry, which offers you many job opportunities that you can own or manage without the need to pay taxes. In addition, there is no taxes on wealth, profits or capital in Bahrain," the announcement says
It adds "Your employees can also keep more of their salaries thanks to not imposing an income tax in Bahrain as well. Even if your company let go workers, your employees will not have to pay income taxes as long as they have obtained a residence permit from you as an employer."