In line with global practices, Bahrain is committed to adopting the new International Financial Reporting Standards (IFRS) as of January 1, 2018. Accordingly, IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers are coming into practice in the kingdom. BACKGROUND FOR IFRS 15: The US Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) worked on a project leading to the development of IFRS 15 Revenue from Contracts with…
Accountancy & Tax
From The Report: Bahrain 2018
View in Online Reader
This chapter contains an overview of the tax framework in which local and foreign investors operate in Bahrain, including the new financial requirements that are set to affect banks’ financial reporting and the issues under the spotlight as the UK prepares to leave the EU.
This chapter contains a viewpoint from Ahmed Alsulaiman, Managing Partner, KSI – Bahrain Consultants & Public Accountants.