Bahrain: Economic substance returns extended for certain entities, digital stamp regime for tobacco

A digital stamp regime for tobacco and tobacco products introduced

A digital stamp regime for tobacco and tobacco products introduced

The government has extended the due date for economic substance information returns from 31 March 2022 to mid-August 2022 for entities that did not have their financial statements for FY 2021 audited by 31 March 2022. In addition, the government has announced that entities that have submitted their economic substance returns based on unaudited financial statements may be required to resubmit their economic substance returns based on their audited financial statements.

The government also has introduced a digital stamp regime for tobacco and tobacco products with the following implementation dates:

  • Cigarette products imported at customs must have digital stamps starting from 15 May 2022
  • Cigarettes sold in markets must have digital stamps starting from 14 August 2022

Read an April 2022 report [PDF 132 KB] prepared by the KPMG member firm in Bahrain

 

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