According to an update from the Guernsey government, officials from Bahrain and Guernsey signed an income tax treaty on 29 September 2024. The treaty is the first of its kind between the two jurisdictions. Taxes Covered The treaty covers Bahrain income tax and Guernsey income tax. Permanent Establishment The treaty includes the provision that an enterprise shall be deemed to have a permanent establishment in a Contacting Party and to carry on business through that permanent establishment if in that Party it carries on: any activity which is directly connected with the exploration for or production of crude oil or...