Bahrain's Ministry of Industry, Commerce, and Tourism (MOICT) has issued guidance on the economic substance requirements that were introduced with effect from 1 January 2019 in order to comply with BEPS Action 5. The requirements apply for relevant entities carrying on relevant activities.
Relevant activities for which the economic substance requirements apply include the following covered by the MOICT:
- Distribution and service center activities;
- Headquarters activities;
- Holding company ac…