Varun | NareshNov 9, 20184 minFAQs on Bahrain VAT Law1. For whom VAT Law is applicable Applicability of VAT: a.For Suppliers,Taxable Supplies made by Taxable Person in the Kingdom b. For...
Varun | NareshDec 26, 20191 minYour business is your priority. Accounting is ours.Great news – we’re now offering Accounting in Intuit QuickBooks. Run your business with it. Anytime. Anywhere. Intuit QuickBooks is...
Varun | NareshDec 1, 20181 minDeduction & Netting of TaxBahrain VAT Law Input Tax Deduction Article 42 states that a) Tax paid on input supplies during the tax period would be eligible for...
Varun | NareshNov 29, 20181 minTax Period and Tax ReturnArticle 35 states that The Authority shall prescribe a Period for which the taxable person shall pay the tax and file returns, and such...
Varun | NareshNov 28, 20181 minRegistration - Bahrain VAT Article 29 states about Mandatory Registration A) Threshold - BHD 37,700 If the value of supply made by a person in the kingdom for the...
Varun | NareshNov 25, 20181 minTax GroupArticle 2 (25) states that Two or more Taxable persons registered for VAT treated as a single taxable person under the provision of the...
Varun | NareshNov 25, 20181 minWhat is meant by implementing States? Article 2 Definition of Bahrain VAT Law States that The GCC states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab...
Varun | NareshNov 25, 20181 minPlace of Supply of ServiceArticle 16 of Bahrain VAT Law states that a) Place of Supply shall be treated as Supply made in Kingdom if the taxable supplier has a...
Varun | NareshNov 24, 20181 minDeemed Supply & ValuationArticle 10 states that the taxable person is deemed to have been made supply in certain cases: 1. Use of Asset (originally purchased as...
Varun | NareshNov 24, 20181 minSupply on behalf of another Person (Principal - Agency Transactions)Article 8 states that If Taxable person (a) Supplies or Receives goods or services in his own name or on behalf of another person, or (b)...
Varun | NareshNov 22, 20181 minCurrency in Tax InvoiceArticle 40 – For supplies in foreign currencies (say for exports), the value of supply shall be converted to Bahraini Dinars on date on...
Varun | NareshNov 21, 20181 minRelated Party Transactions#Bahrain #VAT #Law A transaction between two parties (entity to entity or entity to person) who are already joined by a pre-existing...
Varun | NareshNov 15, 20181 minRefunds#Bahrain #VAT Article 57 of Decree Law specifies the refund provisions: Refund of Tax paid on Supply or Import of the following: (a) Any...
Varun | NareshNov 12, 20181 minList of Zero Rated Items every businessman should be aware of !! #Bahrain #VATArticle 53 of Bahrain VAT Law specifies certain Zero Rated Supplies 1. Export of Goods outside the boundaries implementing States 2....
Varun | NareshNov 9, 20181 minMost important Transitional Provisions every businessmen should beware of Bahrain VAT.Article 75 - Date of Supply after law implementation: If an invoice is issued prior implementation of the law, but supply is made after...
