Shura Council reviews draft laws on agreements with Oman, Korea

Manama, May 5 (BNA): The Foreign Affairs, Defence and National Security Committee of the Shura Council, chaired by Dr. Ali bin Mohammed Al Romaihi, reviewed two draft laws related to the ratification of international agreements.

The first draft law concerns the ratification of the agreement between the Government of the Kingdom of Bahrain and the Government of the Sultanate of Oman on the elimination of double taxation and the prevention of tax evasion and avoidance concerning income taxes, as set out in Decree-Law (12) of 2025.

The second draft law relates to the ratification of the investment promotion and protection agreement between the Government of the Kingdom of Bahrain and the Government of the Republic of Korea, as set out in Decree-Law (9) of 2025.

The first draft law aims to ratify an agreement to boost tax cooperation, eliminate double taxation on income, and prevent tax evasion. The second seeks to ratify an investment agreement to enhance economic ties between the two parties by creating favourable conditions for mutual investment, encouraging private initiatives, and supporting prosperity in both countries.

The committee reviewed the feedback provided by the Ministry of Finance and National Economy, the Bahrain Chamber of Commerce and Industry, and the Legislation and Legal Opinion Commission. All parties emphasised the importance of the two draft laws and their alignment with the Kingdom's national legislation.

Following deliberations, the committee reviewed the legal opinion on the two draft laws and resolved to refer both to the Council Bureau in preparation for discussion in a forthcoming Shura Council session.