Unregistered businesses charging VAT on supplies
- Background: Certain newly set up businesses have been penalized by the NBR for charging VAT on supply of goods or services prior to obtaining VAT registration
- Penalty Exposure: Up to BHD 5,000/-
- Our Comment: There have been many cases where newly set up businesses (mainly in the retail sector) did not evaluate their VAT registration….
Source: KPMG
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