VAT was introduced in Bahrain on 1st January 2019. The standard rate of 5% will be applicable on goods and services. However, there are few items on which tax will be subject to Zero rated and exempt.
The NBR, through Audit procedure, assess the compliance level of a registered person . It also assesses whether the VAT declared and paid is correct and fair. The assessment can be for one year or more. Books of accounts and records maintained are examined by the officials appointed by NBR during the audit in Bahrain. After its completion, if any addition tax liability arises, then the registered persons must pay the additional tax.
The tax audit may either be carried out at
For assessing the compliance and tax correctly paid or not, the NBR has the following powers:
This frequency may vary from person to person. However, the frequency depends upon:
For more information on these services, please contact us:
Tel: +971 43 23 1183
Mob: +971 55 899 5971
E-mail: team@suavebesto.com