KPMG in Bahrain is gearing up to host an online seminar session on Wednesday 14 July 2021 to review the key learnings during the first 1,000 days since the introduction of VAT in the Kingdom of Bahrain, and discuss what to expect going forward.

Having introduced VAT on 1 January 2019, the Kingdom of Bahrain is rapidly arriving at a major milestone to mark 1,000 days of VAT. This is a critical juncture in the journey, and the laws, policies and processes on VAT has significantly evolved over the period to a level of maturity within the marketplace. With the aim to decode the journey, KPMG in Bahrain’s Tax team will highlight during the live webinar the impact VAT might have had on the marketplace or may develop in the future.

Mubeen Khadir, Partner and Head of Taxes and Corporate Services at KPMG in Bahrain, commented on the upcoming event, and said “Looking back at the previous VAT cycles, lack of knowledge about the registration process and the inaccurate record-keeping and tax accounting remain among the main challenges faced by businesses in Bahrain. As we are approaching the 1,000 days of VAT landmark, I encourage all eligible businesses and business owners to attend the seminar to gain insight on the lessons learnt from the previous phases and the recommended solutions.”

During the session, KPMG in Bahrain’s Tax team will review requirements and best practices in tax accounting, which is crucial for businesses to ensure ongoing VAT compliance. They will also address any issues raised by the attendees.

For more registration and more information, please contact Khalid Seyadi directly on kseyadi@kpmg.com