Bahrain has approved a draft law on March 23rd 2014 for the ratification of the income tax treaty that was signed with Hungary. The withholding rates of the treaty are as follows:

• Dividends - 0% when the beneficial owner is a company (other than a partnership that is not liable to tax), otherwise 5%
• Interest - 0%
• Royalties - 0%

The treaty will enter into force after ratified by both countries an…