Impact of VAT on the Real Estate Sector in Bahrain
Application of VAT to real estate transactions has been contentious across the world, owing to the differential treatments being applied to transactions, usually based on ownership and type of use. In the GCC region, KSA and UAE implemented VAT with effect from 1 January 2018 and Bahrain is expected to follow suit by introduction of VAT by late 2018 or early 2019. The VAT Laws in the GCC region follow the VAT Framework Agreement signed by the members. The VAT Framework Agreement provides the option to member states to either exempt or zero rate transactions relating to the real estate sector.
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