Bahrain just announced a Domestic Minimum Top-up Tax (DMTT) for Multinational Enterprises (MNEs). As per Decree Law (11) of 2024, it’s kicking off on January 1, 2025! This move is fully aligned with the OECD’s guidelines and highlights Bahrain’s commitment to global economic fairness and transparency.
Bahrain has been on board with the OECD since 2018, supporting the Inclusive Framework and the groundbreaking two-pillar reform. Fast forward to now, and over 140 jurisdictions have signed up for this international tax reform. Which includes a Global Minimum Corporate Tax of 15% for large MNEs. And with the DMTT, Bahrain is making sure that these MNEs pay their fair share on profits generated within the Kingdom.
This new law is for large MNEs operating in Bahrain with global revenues over EUR 750 million, ensuring they meet the 15% minimum tax threshold. Eligible businesses can get registered with the National Bureau for Revenue (NBR) before the deadline. This is Bahrain taking a stand for fair play in international taxation!
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