The Bahrain Government and the Financial and Economic Affairs Committee of the Council of Representatives (lower house of parliament) reportedly held a joint meeting on 22 December 2023 to discuss initiatives for the introduction of a new corporate income tax regime. The meeting included the discussion of a draft proposal for a 5% tax rate on medium and large-sized companies and a 30% rate for foreign companies, which the Government is opposed to as it would harm Bahrain's competitive position, economic stability, and employment opportunities. Instead, the Government is drafting a proposed law that would provide a more balanced approach...