By Avinash Saxena
Businesses like financial services, insurance, and real estate, whose sales are partially or fully exempt, will experience an increase in costs as a direct effect of Bahrain’s proposed increase in value added tax (VAT) from five per cent to 10pc, an expert has said.
According to audit and advisory firm Grant Thornton Bahrain senior partner Jatin Karia, these companies will not be able to recover input tax, adding to their costs.
“Nevertheless, businesses like basic foods, healthcare, education, international and domestic transportation, and some construction-related industries may not see any impact, as they will be able to recover the additional tax from the tax authorities.
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