Value Added Tax general guide
Dear valued clients,
The National Bureau of Taxation (NBT) has issued the VAT general guide on 30 December 2018.
The VAT general guide provides preliminary remarks on taxable persons and registration, transactions within the scope of VAT, place of supply, VAT treatment in Bahrain, persons liable to pay VAT, value of supply and tax due date, tax invoices, input tax recovery, special refund schemes, tax period, tax return and payment, record keeping, non-compliance with tax obligations, bad debts relief, profit margin scheme, tax administration, appointing tax representative or a tax agent and transitional rules. The guide also highlights the VAT common issues.
A summary of the guide shall be issued in due course.
For more information, please contact us.
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