Deduction & Netting of Tax
Bahrain VAT Law Input Tax Deduction Article 42 states that a) Tax paid on input supplies during the tax period would be eligible for...
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Nov 29, 20181 min
Tax Period and Tax Return
Article 35 states that The Authority shall prescribe a Period for which the taxable person shall pay the tax and file returns, and such...
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Nov 28, 20181 min
Registration - 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...
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Nov 25, 20181 min
What 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...
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Nov 25, 20181 min
Place of Supply of Service
Article 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...
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Nov 24, 20181 min
Deemed Supply & Valuation
Article 10 states that the taxable person is deemed to have been made supply in certain cases: 1. Use of Asset (originally purchased as...
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Nov 24, 20181 min
Supply 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)...
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Nov 22, 20181 min
Currency in Tax Invoice
Article 40 – For supplies in foreign currencies (say for exports), the value of supply shall be converted to Bahraini Dinars on date on...
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Nov 21, 20181 min
Related 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...
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Nov 15, 20181 min
Refunds
#Bahrain #VAT Article 57 of Decree Law specifies the refund provisions: Refund of Tax paid on Supply or Import of the following: (a) Any...
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Nov 12, 20181 min
List of Zero Rated Items every businessman should be aware of !! #Bahrain #VAT
Article 53 of Bahrain VAT Law specifies certain Zero Rated Supplies 1. Export of Goods outside the boundaries implementing States 2....
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Nov 9, 20181 min
Most 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...
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Nov 9, 20184 min
FAQs on Bahrain VAT Law
1. For whom VAT Law is applicable Applicability of VAT: a.For Suppliers,Taxable Supplies made by Taxable Person in the Kingdom b. For...
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