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The National Bureau for Revenue (NBR) in Bahrain has published an updated VAT General Guide, sets out fees payable for certain NBR services and the procedures for requesting a review of an assessment (pre-appeal).
Contents. Chapter One - Introductory Provisions. Chapter Two - Tax Rate and Scope. Chapter Three - Supply. Chapter Four - Tax due date (Date of Supply) Chapter Five - The place of supply. Chapter Six - Importation. Chapter Seven - The value of supply and importation. Chapter Eight - Registration.
• The temporary rise of the mandatory VAT registration threshold for the year 2019 • A phased mandatory VAT registration with three registration deadlines depending on the
25 sty 2021 · KINGDOM OF BAHRAIN . VAT GENERAL GUIDE . DECEMBER 2018 . VERSION 1.5 Updated on: 14 January 2021
Base Erosion and Profit Shifting (BEPS) Base Erosion and Profit Shifting (BEPS) Action 5 (Countering Harmful Tax Practices) Action 6 (Prevention of tax treaty abuse) Action 13 (Country-by-Country Reporting) Action 14 (Dispute Resolution Mechanism) Tax Transparency and Exchange of Information.
In this publication, KPMG in Bahrain summarizes the VAT Law in the Kingdom of Bahrain and highlights the key implications on businesses across the main economic sectors.
As a tax on consumption, VAT is paid and collected at every stage of the supply chain, with end consumers of goods and services bearing the cost. For general information on VAT, please refer to the VAT General Guide issued by the NBR which can be found on the NBR’s website, www.nbr.gov.bh. 2.2. How does VAT work?
