CR fee hike put off

Manama : The proposed hike in the Commercial Registration (CR) fee with effect from September 12, 2017 has been postponed by another six months, the Ministry of Industry, Commerce and Tourism said yesterday. 

However, the Ministerial Edict 130/2016, enforcing the hike, would come into force after 2018 March, it said.

The decision follows a series of meetings between the Ministry of Industry, Commerce and Tourism and Bahrain Chamber of Commerce and Industry (BCCI) based on directives from His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Premier, to hold meetings and reach an agreement on the CR fee.

BCCI said that the fee hike postponement would enable it to study the financial conditions of small merchants and traders and raise awareness on the importance of merging commercial activities.

Following the endorsement of the proposal, the Ministry of Industry, Commerce and Tourism and BCCI extended their deepest appreciation to HRH the Prime Minister and HRH the Crown Prince for their keenness on supporting the commercial sector as well as small and medium-sized enterprises in order to push economic growth forward and safeguard the sector.

Based on the agreement, the Ministry and BCCI called on owners of enterprises and companies to review their business activities and remove ineffective ones to reduce commitments associated with the Commercial Registration.

The Ministry said that it was fully prepared to provide the necessary advice to merge the activities for CR holders. It is worth noting that Edict 130/2016 on CR fees was part of the Industry, Commerce and Tourism Ministry’s integrated plans since 2014 to develop the business sector.