Search
  • Varun | Naresh

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 Taxable Goods) for other than economic activity (i.e for non business puposes)

2. Surrender of Assets (originally purchased as Taxable Goods)

3. Shifting the Use of Assets (originally purchased as Taxable Goods) for making taxable supplies to exempted supplies.

4. Disposing the Goods free of cost (samples , gifts etc)

5. Providing services for no consideration

Authority shall provide further rules and regulations in this regard.


Value of Deemed Supply

Article 23 states that value shall be purchase value or actual cost or goods or services supplied. If the same could not be determined , fair market value of such transaction.

5 views

Recent Posts

See All

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 deduction against output tax. b) Tax Paid during imports in another

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 period shall not less than a month. The Start and end of Tax Pe

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 period of 12 months prior to any month in the year (or) exceeds

© 2020 Vinpro Global. VINPRO is a registered Trademark of Vinpro Consultancy Services LLP, India. All rights reserved.

VINPRO refers to the VINPRO network and/or one or more of its affiliates, each of which is a separate legal entity. 

  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon