Tax
Customs and International Trade
International Corporate Tax
International Executive Services
Mergers & Acquisitions
Transfer pricing
VAT
These focused groups share the same core KPMG values of clarity, excellence, creative and most of all client service. In addition, KPMG member firms throughout the world offer a range of domestic business and personal tax services designed to meet the needs of your business whatever its size.
Taxation in Bahrain
There is no corporate taxation on bankng profits earned and booked in Bahrain for any type of Banking institution. This combined with the absence of personal taxation on salaries plays a significant part in attracting banks and other financial institutions to Bahrain.
In the absence of taxation in Bahrain, the taxability of corporate profits of subsidiaries or branches of foreign banks operating in Bahrain would depend on whether there are bilateral treaties for the avoidance of double taxation with the country in which the branch's head office state is incorporated.
In all other Gulf Corporation Council(GCC) countries, there is some form of taxation on business profits (personal income taxes are still very rare). The taxability of the profits of a Bahrain bank derived from any of the other GCC countries would depend on whether the underlying banking activity was 'offshore' or 'onshore' in relation to this country. As a general rule offshore activity is exempt from tax, whereas onshore activity is taxable.
For further information regarding these services please contact:
Partner - Ahmed Hussain
Partner - Philip Marwood
Tax Overview
In today's global economy, effective tax advice and planning can give your business a competitive advantage. KPMG in Bahrain offers a range of Tax services which are designed to offer clients advanced tax planning. With the new economy developing rapidly, your business deserves high quality tax advice. KPMG in Bahrain is committed to delivering this.
KPMG’s Tax practice throughout KPMG member firms is segmented as follows:
Taxation in Bahrain
There is no corporate taxation on bankng profits earned and booked in Bahrain for any type of Banking institution. This combined with the absence of personal taxation on salaries plays a significant part in attracting banks and other financial institutions to Bahrain.
In the absence of taxation in Bahrain, the taxability of corporate profits of subsidiaries or branches of foreign banks operating in Bahrain would depend on whether there are bilateral treaties for the avoidance of double taxation with the country in which the branch's head office state is incorporated.
In all other Gulf Corporation Council(GCC) countries, there is some form of taxation on business profits (personal income taxes are still very rare). The taxability of the profits of a Bahrain bank derived from any of the other GCC countries would depend on whether the underlying banking activity was 'offshore' or 'onshore' in relation to this country. As a general rule offshore activity is exempt from tax, whereas onshore activity is taxable.
For further information regarding these services please contact:
Partner - Ahmed Hussain
Partner - Philip Marwood
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