05 Sep 2024
Bahrain Chamber praises new Decree-Laws, enhancing tax efficiency and legal flexibility
Chairman of the Bahrain Chamber, Sameer Nass affirmed that Decree-law No. (11) of 2024 which implements the Domestic Minimum Top-up Tax (DMTT) on Multinational Enterprises (MNEs) operating within the Kingdom, will address the challenges of tax base erosion and prevent profit shifting to low-tax jurisdictions, thereby enhancing tax efficiency. He also noted that this application reflects Bahrain's commitment to adhering to international standards in the fight against tax evasion. He clarified that this tax does not apply to Bahraini companies, which enhances their competitiveness and supports their growth and long-term sustainability as key partners in the nation’s development.
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