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FCCIB Business Networking Dinner on Wednesday 2nd of November 2016 at Crowne Plaza Hotel

The French Chamber of Commerce and Industry in Bahrain (FCCIB), hosted 60 guest members and VIPs, during a business networking conference and dinner held on the 2nd of November at the Crowne Plaza Hotel.

The title of the conference was “GCC Value Added Tax: The Impact on Bahrain-based Businesses”. It was brilliantly introduced by Gert-Jan Van Norden, Partner of KPMG Netherlands, Global Head of indirect taxes and Tax Professor at the University of Tilburg, followed by a detailed presentation of the speaker Mr. Ali Al-Mahroos, Tax Specialist at KPMG, and company member of the FCCIB.

Effective from January 1, 2018, it is anticipated that Bahrain, along with the other member states of the GCC will introduce a broad Valued Added Tax (VAT) at a rate 5%, along with a “Selective Tax” at an expected rate of 15%. The conference outlined the shift in the regulatory environment and allowed to understand the impact it would have on businesses in Bahrain and the GCC. The conference was followed by a question and answer session.

FCCIB, represented during this event by its chairman, Jean-Christophe Durand and several board members was honored by the attendance of the French Ambassador to Bahrain, HE. Bernard Regnauld-Fabre, the Managing Director of the Economic Development Board, Mr. Simon Galpin and the Managing Partner of KPMG, Mr. Jamal Fakhro.