By Mohammed Al A’Ali
A crunch vote on increasing the tax on goods and services, doubling Value Added Tax (VAT) from five per cent to 10pc, is on the Shura Council’s table today.
The upper chamber has sped up debate only four days after MPs voted in favour of the move.
It is expected the government could gain up to BD490 million through its full implementation. However, a conservative estimate of VAT revenues for 2022 remains at BD288m. This comes as the government aims to reduce the total deficit expected for 2022 from BD1.112 billion to BD823.528m.
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