Bahrain
Overview of CbC reporting requirements
First reporting fiscal year: Commencing on or after 1 January 2021
Consolidated group revenue threshold: BHD 342 million
Filing deadline: 12 months following the end of the reporting fiscal year
The domestic legal and administrative framework
Bahrain confirms that its rules have not changed and continue to be applied effectively. Bahrain continues to meet all terms of reference.
The exchange of information framework
In its 2018/2019 peer review, it was recommended that Bahrain take steps to implement the necessary processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework. These processes are now in place and the recommendation is removed.
Appropriate use of CbC reports
Bahrain is a non-reciprocal jurisdiction and, as such, will not receive CbC reports submitted to tax authorities in other jurisdictions, and will not apply local filing. It is therefore not necessary for this peer review evaluation to reach any conclusions with respect to compliance with the terms of reference on appropriate use.