Recovered articles from the original WordPress database.
Corporate Tax in Bahrain: Preparing Businesses for the Road Ahead The proposed introduction of Corporate Income Tax (CIT) in Bahrain marks an important shift in the Kingdom’s fiscal landscape. With the draft legislation now...
Digitalization in Business: Driving Growth and Corporate Tax Readiness in Bahrain Digitalization is no longer optional; it has become the backbone of modern business operations. In Bahrain, companies are increasingly adopting digital solutions not...
Anti-Money Laundering (AML) in Bahrain Money laundering is more than a financial crime—it threatens economic stability, weakens institutions, and exposes businesses to serious reputational and regulatory consequences. As global enforcement intensifies, Bahrain has strengthened...
Economic Substance Regulations (ESR) in Bahrain Economic Substance Regulation (ESR) in Bahrain is an important compliance requirement for businesses registered in the Kingdom. Introduced in line with global standards set by the Organization for...
Introduction to Bahrain's Domestic Minimum Top-Up Tax (DMTT) On September 1, 2024, Bahrain set a regional milestone by introducing the Domestic Minimum Top-Up Tax (DMTT) via Decree-Law No. (11) of 2024. Effective January 1,...
VAT Implications of International Brand’s Marketing Support VAT Implications of International Brand’s Marketing Support: Ever noticed a local firm promoting a brand from another country in Bahrain? This isn't just a coincidence; it's a...
Navigating VAT Due Dates and Deemed Supplies: A Comprehensive Guide for Retailers and Wholesalers in Bahrain VAT due date for supplies in the Retail and Wholesale sector Let’s discuss what is VAT due date...
UNDERSTANDING THE VALUE OF SUPPLY IN THE RETAIL AND WHOLESALE SECTOR Once we identify the place of supply and confirmed that the Bahrain VAT Law will be applicable. The next step for a supplier...
Place Of Supply And Prices In The Retail And Wholesale Sector The retail sector means the place where every product is finally sold to the end customers, that is the common public. The most...
What is internal audit in Bahrain and what is its purpose in businesses of all sizes? Internal audit service in Bahrain is a process that involves an independent evaluation of an organization's operations, controls,...
Documents needed for Import VAT claims through a clearing agent A taxable person in Bahrain can recover the Import VAT paid at the customs as normal Input VAT subject to the condition laid out...
VAT treatment on asset financing Businesses often purchase assets and pay in installments. The installment payment may or may not be subject to charges. In the case of asset financing, credit facility or financing...
Accounting and Bookkeeping in Bahrain The National Bureau for revenue has made it mandatory for all the VAT payers to maintain proper books of accounts relating to the taxable business transactions. Though NBR has...
VAT on Electronic Service Electronic services are an integral part of our day-to-day life. We use many electronic services such as buying a zoom subscription to conduct online meetings, subscription to OTT platforms to...
VAT Return post VAT rate increase A VAT return is an official document submitted to the NBR which summarizes the total of sales, purchases, and the VAT liability/refundable amounts. The VAT return form is...
VAT in Bahrain- Bahrain VAT Rate increases from 5% to 10% Transitional Rules Bahrain VAT rate increases from 5% to 10% with effect from 1 January 2022, all goods and services will be subject...
Export of Service under Bahrain VAT Many retailers in Bahrain provide various services to their suppliers outside Bahrain. Can all of these be treated as export of service? Are there any conditions to be...
VAT treatment for retail concession stores. We often come across shops within a shop. That is the process of one company selling its products in the outlet of another company. Some retail stores allow...
What is a Certificate of Residence (COR)? A tax residency certificate is an official document issued by the government of a country o confirm that the applicant is a resident of the country for...
VAT treatment on adjustments made to the consideration On the sale of a product or service which is subject to VAT at 5% as per the Bahrain VAT Law, the VAT payer will need...
Excise Tax in Bahrain Excise Tax is an indirect tax levied by the Bahrain government on goods that are considered harmful to human health or the environment. The basic reason for implementing Excise Tax...
E-Commerce VAT in Bahrain and its Applicability E-commerce VAT in Bahrain and its application case studies in the different scenario; An e-commerce transaction relating to goods involves the sale of goods via an online...
VAT Registration &Deregistration in Bahrain VAT Registration in Bahrain is a process through which a taxable entity requests to be registered for Value Added Tax (VAT). Upon registration, a dedicated VAT account number will...
VAT treatment on discounts in Bahrain Often the supplier of goods and services provides discounts on the value of the supply to its customers for various reasons. Let us go through the VAT treatment...
VAT Audit in Bahrain VAT Audit in Bahrain is a process by which the National Bureau for Revenue (NBR) will assess whether the VAT payer complies with the Bahrain VAT Law. As you all...
Who is an agent? VAT treatment in Bahrain on the supplies made by the agent will depend on the nature of the agency. An agent is a person who acts on behalf of another...
VAT in Bahrain on Loyalty Points Loyalty points awarded to customers is a widely accepted marketing tool used by many of the retailers in Bahrain. There are a variety of ways in which the...
Can businesses change the type of their VAT Return in Bahrain? Taxable businesses in Bahrain can change their type of VAT Return from, full VAT Return to a Simplified VAT Return. There are certain...
Updated VAT Real Estate Guide in Bahrain VAT Treatment in Bahrain, generally construction implies building stuff like a home, office, factory, warehouse, road, bridge, etc. Construction can include demolition, renovation/reconstruction of existing buildings...
VAT Group as per the Bahrain VAT Law As per the Bahrain VAT law, two or more persons can form a VAT group and act as a single entity for the purpose of VAT....
VAT Treatment in Bahrain Under the Bahrain VAT Law, when a VAT payer sells the assets of his business, such a transaction would normally be subject to VAT at the appropriate rate. However, in...
VAT Refund in Bahrain for Eligible person As per the Bahrain VAT Law, there are some persons who meet the requirements to apply for VAT Refund when they make their regular purchases. They are...
Economic Activity for VAT purpose in Bahrain Anyone who is carrying out an Economic Activity in Bahrain should be registered for VAT in Bahrain. But how do you determine whether you are conducting any...
VAT Return in Bahrain The Bahrain VAT Law has introduced Simplified VAT Return form which can be chosen by small enterprises if the following conditions are met: Annual revenue is less than BD 100,000....
VAT Treatment in Bahrain on Oil and Gas Industry Oil and Gas is one of the major economic sectors in the Kingdom of Bahrain and its contribution to the real GDP is quite considerable....
VAT Payment Service in Bahrain As per the Bahrain VAT law and with the introduction of VAT in Bahrain, every taxable person in the kingdom should submit their VAT Returns under e-services through the website...
All you need to know about imports under Bahrain VAT The companies are liable to pay VAT at applicable rates when the goods are imported to the territory of Bahrain. Now let us look...
Tax Payment Methods for VAT Return in Bahrain In accordance with the Bahrain VAT Law, a person registered for VAT in Bahrain is obliged to charge VAT for standard-rated supplies from their customers and...
VAT Treatment in Bahrain The VAT Treatment in Bahrain for Damaged or stolen goods, obsolete goods, consignment stock etc is often confusing. The Bahrain VAT Law clearly lays out the procedures to be followed...
Conditions for Input VAT Recovery in Bahrain Under the Bahrain VAT Law, Input VAT Recovery in Bahrain is incurred by a taxable person is subject to various conditions to be met. As per the...
VAT Treatment in Bahrain Often, we come across the situation when more than one product is being sold. What will be the VAT Treatment In Bahrain for such supplies? The Bahrain VAT Law...
Reverse Charge Mechanism in Bahrain Reverse Charge Mechanism Under Bahrain VAT Law: Can a VAT payer opt for Reverse Charge Mechanism in Bahrain on Local supplies? The output VAT liability is triggered as soon...
Out Of Scope Transactions Under Bahrain VAT Law It is important for a VAT payer in Bahrain to determine whether the transaction made by him is within the scope of Bahrain VAT Law or...
Tax Due Date On Goods and Services Under Bahrain VAT Law The tax due date is the date on which VAT is due on a taxable supply in Bahrain. This is an area of...
Profit Margin Scheme in Bahrain As per the Bahrain VAT Law, the general rule of the calculation of the VAT amount is that the VAT amount would be the value of supply multiplied by...
VAT in Bahrain Case Study Many products are sold in the Bahrain market with a warranty that usually covers the reliability of goods for a specified period during which the goods are expected to...
Tax Invoice in Bahrain The tax invoice in Bahrain is one of the most important documents evidencing the amount of Output VAT collected and the claim on the Input VAT paid. The Bahrain VAT...
Economic Substance Regulation in Bahrain Economic Substance Regulation is introduced in the Kingdom of Bahrain with effect from the year 2019. The Action of implementation of Economic Substance Regulation in the Kingdom of Bahrain...
VAT Return in Bahrain The VAT Return filed by an entity for VAT in Bahrain be subject to errors due to different reasons or may require any adjustment in any subsequent VAT Return Filing...
VAT De-Registration in Bahrain There may be different reasons why a previously VAT Registered company in Bahrain may choose to apply for VAT De-Registration in Bahrain. These reasons are expected to fall within the...
Bahrain VAT Law The Bahrain VAT Law clearly describes the records to be kept or the documents to be retained for VAT in Bahrain. The Bahrain VAT Law also enlightens about the time duration...
Apportionment of Input Tax on Vehicle and Mobile Expenses in Bahrain As per the Bahrain VAT Law, only Input VAT paid on expenses that are incurred by businesses for conducting their economic activity can...
VAT for Retailers in Bahrain VAT for Retailers in Bahrain is applicable to several transactions of different nature that takes place every day on a retail business in Bahrain. The treatment for VAT on...
VAT Payable Methods in Bahrain to Pay VAT to National Bureau for Revenue (NBR) VAT Payable in Bahrain All those who have registered for VAT in Bahrain should file their VAT Return on time....
Reimbursements and Disbursements of Expenses under the Bahrain VAT Law and we will also understand the terminologies that Reimbursements and Disbursements are and the tax implication of reimbursement and disbursement expenses under the Bahrain...
Deemed Supply in Bahrain VAT is generally, when goods or service is supplied without any consideration (For example, Issue of Sample goods for free), it is outside the scope of Bahrain VAT law But...
Value of Supply Under Bahrain VAT Once the VAT payer has identified the Taxable supply and segregated between VAT to be charged at 5% and 0%, knowing the value of supply under Bahrain VAT...
The VAT on Healthcare Sector in the Kingdom of Bahrain Value Added Tax (VAT) has been introduced in Bahrain from 1 January 2019, the National Bureau for Revenue (NBR) has also published a VAT...
VAT registration for branch companies, as per the Bahrain VAT law, branch entities should be considered as a part of the main license as far as VAT Registration in Bahrain is concerned. It means...
Can you claim Input Tax you paid prior to your VAT Registration? In the Kingdom of Bahrain, unlike any other GCC countries, eligibility to claim input tax for the period in which one was...
Reverse Charge Mechanism under Bahrain VAT Law Reverse Charge Mechanism under Bahrain VAT Law is the topic covered in this video. The applicability, accountability, and impact of Reverse Charge Mechanism under Bahrain VAT Law...
Many of those registered businesses in Bahrain are confused about whether they can deal with unregistered persons/businesses or not. In this blog, we will learn what is the implication if we buy or sell...
Transitional Provisions under Bahrain VAT law. The VAT in Bahrain is implemented from 01st January 2019 onwards and it is being implemented in different stages. Companies which are having a higher turnover VAT is implemented from...
VAT in Bahrain Updates- In this blog, we will understand whether VAT in Bahrain is a cost to your business or not. Many people and businesses think that VAT is a cost to their...
VAT Registration in Bahrain is applicable for both resident and non-resident persons who conduct economic activity in the region. In this blog content, we will discuss the importance of VAT Registration in the Kingdom...
Rounding off Rules for VAT in Bahrain In this Article we discuss Rounding off Rules for VAT in Bahrain. The tax invoice plays a crucial role for the supplier as it may give the...
VAT Return Bahrain penalties Businesses who have registered for VAT in Bahrain are obliged to file their VAT Return on the specific period as prescribed by the National Bureau for Revenue (NBR) which is...
VAT in Bahrain Basics The GCC (Gulf Co-operation Council) countries have agreed ‘in principle’ to the GCC VAT Agreement to levy VAT in the region and are agreed by the GCC countries that VAT...
VAT on International Transportation in Bahrain: What is International Transportation? VAT on International transportation in Bahrain is the supply of transportation services of passengers and/or goods using a qualifying means of transport which involves...
VAT Return filing in Bahrain there are two way to modify the VAT Returns you have already submitted through the National Bureau for Revenue online portal. This article will teach you detailed steps to...
To know whether the Directors' Fee in Bahrain is taxable or not, this blog will shed some light on a recent VAT public clarification VAT/PC/19/2 published by the National Bureau for Revenue (NBR) on...
VAT on Travel Agents and Tour Operators VAT in Bahrain took its course from 1st January 2019 as the third GCC member state after UAE and KSA to implement VAT. The standard rate of...
What is the Tourist Refund Scheme in Bahrain? VAT tourist refund scheme is a VAT refund scheme which will be applicable to the 'overseas tourists' visiting the Kingdom of Bahrain. The VAT paid by...
VAT in Bahrain for Real Estate Sector VAT in Bahrain for real estate secotor, as per the Bahrain VAT law and its executive regulation the sale of rela estate (including residential, commercial, and land)is...
Effect of VAT in Bahrain The Kingdom of Bahrain is the third Gulf economy to introduce VAT. Since VAT in Bahrain has been introduced from 1st January 2019 at a Standard Rate of 5%, there are...
What does VAT Exemption mean? There are some supplies of good and services which are exempt from VAT in Bahrain. These kinds of supplies are usually mentioned as non-taxable supplies or may also be...
How is VAT Applicable While Exporting Goods from Bahrain? When there is a supply of goods that are being transported from the Kingdom of Bahrain to the outer world other than the implementing states,...
VAT in Bahrain Bahrain is a country which has Petroleum production accounted for 11% of its GDP as per the available reports. It is the long - term vision of the country...
VAT in Bahrain Introduction With the introduction of Value Added Tax (VAT) in Bahrain from 1st January, 2019 businesses under the VAT Registration Threshold have registered for VAT in Bahrain. All the registered businesses for...
The Bahrain Import Tax Bahrain import tax becomes applicable when goods are entering into Bahrain from the outside world other than the Implementing State. While importing goods to Bahrain the goods are cleared through...
VAT Implementation in Bahrain The National Bureau for Revenue (NBR) is the government authority who is responsible for the implementation and administration of VAT in Bahrain. With NBR lies the sole responsibility of administering, monitoring...
With the introduction of VAT in Bahrain , filing for VAT Return in Bahrain is obligatory for all taxable businesses who has registered for VAT in Bahrain. VAT Return filing should be progressed as...
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