Bahrain
VAT in Bahrain
VAT in Bahrain
The value added tax (‘VAT’) laws came into effect in the United Arab Emirates (‘UAE’) and the Kingdom of Saudi Arabia (‘KSA’) on 1 January 2018. In both countries, the respective VAT law outlines the key principles on the application of VAT.
On 7th October 2018, the parliament of Bahrain approved that the introduction of VAT will be effective from 1st January 2019. Bahrain released the VAT Law on 7th October 2018 via the Official Gazette website.
Our Approach
The key to helping you create a successful indirect tax strategy is building a good relationship so that we understand your whole organization, where you do business, and how you operate. That way, we can:
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Help you reduce costs and risks, make your business more efficient, and turn tax opportunities into real results.
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Understand the impact indirect tax has on your revenue and profits.
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Build on this understanding to make sure you have the right people, knowledge, technology, processes, and controls for indirect tax governance, wherever you do business.
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Stay on top of the latest policy trends and developments.
Our Services
We provide comprehensive advice and assistance regarding all aspects of VAT
VAT Advisory
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Advising on applicability of taxes on various transactions undertaken or proposed to be undertaken
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Advising on routine issues related to classification, valuation, place of supply, the claim of tax benefits, and admissibility of tax benefits and exemptions
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Opinions on regular tax issues faced by Company
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Analyzing registration requirements of the company considering the business operations carried out from such premise
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Analyzing requirement of cross charge among multiple registrations of the company
Indirect tax review/health check/due diligence
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Review of VAT implementation already done by the Company and various compliances being followed by the Company in accordance with the VAT laws
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Review of each business process such as outward supplies, procurements, stock transfers, exports, refunds, job work, and cross-charge, and others
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Validation of tax positions adopted by the Company on various revenue streams as well as expenses subject to tax under reverse charge mechanism
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Undertaking a comprehensive review of the business operations to identify tax optimization opportunities and any compliance gaps
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Conducting detailed indirect tax due diligence (buy-side and sell-side)
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Compliance
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Managing entire indirect tax compliances of the company
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Strong in-house tax team to support the Company across locations
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Extensive control checks for ensuring accuracy and completeness of data and exhaustive validation checks for return finalization