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Bahrain Credit Rating DowngradedAugust 2010 Moody's credit rating agency downgraded on August 23, 2010 Bahrain's credit rating from A2 to A3. The rating which is the lowest among the six states of the Arab gulf follows worries about Bahrain's inability to meet contingent liabilities in future backed on insufficient tax revenues if oil receipts decrease. Bahrain Malta Double Tax TreatyApril 2010 The finance ministers of Bahrain and Malta signed on April 12,2010 a new double taxation agreement, DTA, between the two countries. The agreement deals with avoidance of double taxes from all kinds of income taxes, including capital gains and and also deals with exchange of tax informaion, in line with the OECD model confirmed in the G20 summit in London. Bahrain has now 29 DTAs, 20 are already in effect. 18 of Bahrain's DTAs are in line with the OECD model for exchange of tax information. |
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