AWS Careers 2020

Welcome to AWS, Bahrain

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Tax, pay & finances Currency: The currency used in Bahrain is the Bahraini dinar. The word dinar is derived from the Roman word "denarius." It is denoted by two symbols, either BHD / BD / .د.د. The Bahraini dinar is divided into smaller units of 1000 fils. This is effectively tied to the dollar at the rate BHD1 = $2.65957. Tax and Finances: Bahrain draws expats from all over the world, in large part due to its generous taxation laws. Workers in Bahrain, including expats, are exempt from income tax, making the quality of living in the country very high, with residents able to save money and enjoy life. Capital gains and income of residents or non-residents not paid in Bahrain are not subject to tax or social insurance rules in Bahrain. 5% Value Added Tax (VAT) has been applied in the Kingdom of Bahrain. There are no net wealth/worth taxes in Bahrain. Individuals may also be subject to stamp duties, customs duties, and municipal taxes. Since there is no PIT regime in Bahrain, residence is not defined for PIT purposes. Social Security: The current rate of contributions to the SIO is 19% for local employees (12% employer; 7% employee) and 4% for expatriate employees (3% employer; 1% employee). These contributions to the SIO are to be withheld by the employer and remitted to SIO on a monthly basis. Individuals employed by a natural person or a legal entity or an enterprise in the Kingdom of Bahrain are subject to contributions to the Social Insurance Organization (SIO) rules in Bahrain. Understanding your Pay: The banks in Bahrain are modern, reliable, and offer professional and trustworthy services. It is considered as one of the most important places in the world for Islamic banking. There is a wide range of banks available in Bahrain, both international and local. Popular banks with expats include Arab Bank, HSBC Bahrain, Ahli United Bank, Citibank, and Bank of Bahrain & Kuwait (BBK), amongst others. After researching the banks on offer and selecting one, which will best meet your needs, it is necessary to visit your local branch to open an account. For the sake of convenience, many expats find it easier to open an account with the same bank as used by their employer. Consult your chosen bank in advance to find out their exact requirements, so that you are prepared for your appointment to open your account.

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