Value Added TAX
VAT in Bahrain
Bahrain is one of the Persian Gulf’s leading Sovereign nation. Bahrain has transformed itself as one of the world’s most successful economies. The government of Bahrain has set up an easy business set up for foreigners to invest in the country while offering them a business-friendly environment. The Bahraini Government also monitors closely the implementation of the tax scenario, which is a duty of each and every businessman. The government of Bahrain made it easy for the investors to pay tax, if you are planning to open a business in Bahrain then it is important for you to know about Tax Service and the process of its submission. Now let’s take a look on what is VAT (Value Added Tax) in Bahrain. Value Added Tax, known as VAT, is an indirect tax that is charged on the provision of goods and services and on imports. In fact, at any stage of the supply chain, it is the sales tax imposed on value-added. It is done by the input VAT deduction principle, which enables the company to balance off the VAT charged on purchases (input VAT) with the VAT received on sales (output VAT)
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How Bahrain’s Value Added Tax Policy works?
The businesses licensed under VAT serve as the government’s designated agent for collecting and remitting VAT, and athe entire responsibility of paying 5 percent VAT is on the final consumer. When buying any goods or services subject to the tax, the end consumer pays VAT. Companies in turn pay the National Bureau for Revenue VAT collected from the final consumer and recover the added value paid to their suppliers.
The following goods will not be paid at VAT:
- Basic foodstuffs
- Public Medical Care
- Transport to passengers
- Petroleum and gas sector
- International flights
You will file a tax return annually with the NBR and pay the surplus of your sales tax over yourOutput tax. If your input tax exceeds your output tax, you can seek a refund from the NBR for this disparity or carry it forward as a credit to be used against potential VAT obligations.
Services
VAT Registration
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VAT Submission
Companies dislike the term ‘turnaround consulting’ because it represents failure.
About VAT
Companies dislike the term ‘turnaround consulting’ because it represents failure.
VAT in Bahrain
Companies dislike the term ‘turnaround consulting’ because it represents failure.
VAT Calculation
Companies dislike the term ‘turnaround consulting’ because it represents failure.
How can we help?
We help our esteemed customers with every tax-related issue. By keeping your company module in mind, we provide them with legal and unrivaled taxation solutions. We have an experienced team with adequate tax sector expertise. Our specialists have in-depth awareness about VAT in Bahrain. To achieve high-end results we use hands on technology, tools, and software. If you think why avail tax registration services, the would be to professionally deal with corporate tax services if you don’t know about the specific procedure. It takes a lot of time and money to do the real and the right thing as well.
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