The Formula One World Championship is the premier global car racing competition. This year’s racing started in Bahrain in March of this year and will feature in 22 cities globally over 9 months.
During my recent survey, I visited the Avenue Mall in Manama, a seafront mall stretching for 1.5 km. It reminded me of the Avenue Mall in Kuwait because it provides an outdoor feeling with large glass windows and skylights, while protecting shoppers from the burning sun. As anyone that’s traveled to Bahrain knows, the country is a popular destination for residents of Saudi Arabia seeking recreation and malls are one of the top attractions. Numerous expatriates and Saudi Arabians visit Bahrain for the shopping, movies, restaurants, waterparks, and other activities.
The GCC and collective tax reforms: Gulf Cooperation Council (GCC) member countries first agreed to collective tax reforms in 2016, including directives to implement a VAT of 5%, as well as excise taxes, also known as selective taxes, and commonly referred to as “sin taxes.”