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INTRODUCTION

The Kingdom of Bahrain is a small island country situated near the western shores of the Persian Gulf off the coast of Saudi Arabia. Its economy is traditionally focused on petroleum processing and refinement, but has developed strongly in the areas of communications, transportation and banking. Bahrain is an open market economy, which is for the most part tax free and quite open to foreign investment.

The currency is Bahraini Dinar (BHD)

Abbreviations

APA Advance Pricing Agreement
BHD Bahraini Dinar
BIIP The Bahrain International Investment Park
CFC Controlled Finance Corporation
GAAP Generally Accepted Accounting Principles
GCC Gulf Cooperation Council
JSC Joint Stock Company
LLC Limited Liability Company
PE Permanent Establishment
SPC Single Person Company
TP Transfer Pricing
VAT Value Added Tax
WHT Withholding Tax