Bahrain announced on Sunday that it will introduce a 15% domestic minimum top-up tax for large multinational corporations starting January 1. The tax aligns with guidelines set by the Organization for Economic Cooperation and Development (OECD) and targets multinational enterprises with global revenues exceeding 750 million euros (approximately $829 million) operating in Bahrain.
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This new tax policy ensures that these companies will pay at least 15% of their profits earned within the kingdom. Bahrain’s decision is part of its ongoing collaboration with the OECD, which began in 2018 when the country joined the inclusive framework supporting the two-pillar reform. This reform includes the establishment of a global minimum corporate tax rate to ensure that large multinationals pay a minimum of 15% on their profits in every country where they operate.
The Bahrain News Agency reported that this initiative is a continuation of the country’s efforts to align with international tax standards and ensure fair taxation of multinational enterprises.