For the supply of gold, silver and platinum to be zero rated it needs to have a purity of at least
99% and be tradeable on global bullion markets. For an item to be considered to be at 99%
purity it needs to be certified by the Testing and Metrology Department.
Therefore, it is essential for Bahrain jewelers selling ‘pure’ gold, silver and platinum to hold the
certification before applying VAT at the zero-rate.
Source: linkedin.com (KPMG)
Latest Posts in "Bahrain"
- Proposal Would Delay VAT on Unpaid Government Invoices
- Bill Would Tie VAT Due Date to Government Payment Receipt
- Bahrain NBR Releases Updated Tax Agent and VAT Representative Guide
- Bahrain NBR Updates Tax Agent and VAT Representative Guide
- Bahrain Imposes Customs Duties and 10% VAT on Parcels Over BHD 100
