Income tax a reality by 2020?
Manama : Income tax too could become a reality by 2020 in Bahrain, opinioned the Managing Director of KPMG, citing government’s debt and funding requirements in the long term.
Supporting his view, Jamal Fakhro said that this could become a reality as Bahrain is required to generate income to manage its infrastructural development in the
long term.
He was speaking on the implementation of VAT in Bahrain by 2018 during a panel discussion held as part of the 8th International Conference of the Bahrain Chapter of the Institute of Chartered Accountants of India
The panel discussion was conducted with Jamal Fakhro, moderating and inputs from Panelists Hassan Jarrar, CEO, BISB, Dr. Jarmo Kotilaine, chief economist, Bahrain EDB and CA Sushil Jain, Director, Finance & Risk, Bin Faqeeh Real Estate Invt Co.
A key focus this year has been Bahrain’s outlook for 2017.
The panel’s consensus was that 2017 will continue to be a challenging year for the region and the Bahrain business community would need innovation to meet the challenge.
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