Manama, The Kingdom of Bahrain announced the introduction of a Domestic Minimum Top-up Tax (DMTT) for Multinational Enterprises (MNEs) as outlined in Decree Law (11) of 2024. The new framework for Multinational Enterprises (MNEs) is fully aligned with the Organisation for Economic Co-operation and Development (OECD) guidelines, and will be effective January 1, 2025, underscoring Bahrain's commitment to promoting global economic fairness and transparency. This strategic move builds on Bahrain's proactive engagement with the OECD, dating back to 2018 when it joined the Inclusive Framework and endorsed the groundbreaking two-pillar reform. To date, over 140 jurisdictions have signed up for this international tax reform. As part of this two-pillar reform, the OECD established a Global Minimum Corporate Tax to ensure large Multinational Enterprises (MNEs) pay a minimum tax of 15% on profits in each country where they operate. With the introduction of the DMTT, the Kingdom of Bahrain demonstrates its internatio nal commitment to global cooperation and its dedication to fostering a fair and level playing field in international taxation. Implementing this initiative aims to ensure that MNEs pay the minimum 15% tax on the profits generated in the Kingdom. This Decree Law will apply exclusively to large MNEs operating in the Kingdom, with global revenues surpassing the Pillar Two threshold of EUR 750 million. Eligible businesses are urged to register with the National Bureau for Revenue (NBR) before the deadline specified in the relevant legislation For additional inquiries, the NBR call centre can be reached on 80008001, available 24 hours, 7 days a week, or by email through mne@nbr.gov.bh. Further information and the latest updates can also be found on the NBR's website at www.nbr.gov.bh. Source: Bahrain News Agency