5 Major Developments in Bahrain

5 Major Developments in Bahrain

• Updated VAT Guides Concerning Treatment of Supply of Investment-Grade Gold

• NBR has recently updated VAT General Guide

• Bahrain VAT e-invoicing update

• 2 conditions for VAT Refund to non-residents

• Recent Case of Penalties Imposed by the National Bureau for Revenue (NBR)

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Customs

• KPMG Fakhro GCC Tax News – 19 April 2023

• KPMG Week in Tax: 20 – 24 March 2023

• Mandatory Digital Stamps for Waterpipe Tobacco Products

E-Commerce / Electronic Services

• Bahrain VAT on Foreign Digital Services

E-invoicing

• KPMG Fakhro GCC Tax News – 17 May 2023

• Bahrain VAT e-invoicing update

• Bahrain e-invoicing update: public tender issued

Excise

• KPMG Week in Tax: 12 – 16 June 2023

• KPMG Fakhro GCC Tax News – 15 June 2023

• KPMG Fakhro GCC Tax News – 17 May 2023

• KPMG Week in Tax: 15 – 19 May 2023

• NBR VAT portal update

• KPMG Week in Tax: 20 – 24 March 2023

• Mandatory Digital Stamps for Waterpipe Tobacco Products

Exemption

• NBR has recently updated VAT Financial Services Guide (re investment grade gold)

• VAT Treatment for Syndicated Loans

Implementation / Reform

• KPMG Fakhro GCC Tax News – 31 May 2023

Importation

• KPMG Fakhro GCC Tax News – 24 May 2023

Rate

• Differing VAT Rates Complicate Intra-GCC Trade

• National Bureau for Revenue (NBR) re-enables 5% field in VAT return and requests taxpayers to amend January and February 2023 returns

• Reporting sales and corresponding adjustments at 5% in VAT return form re-enabled

Refund

• 2 conditions for VAT Refund to non-residents

• KPMG Fakhro GCC Tax News – 06 April 2023

Registration

• Recent Case of Penalties Imposed by National Bureau for Revenue (NBR)

• Recent Case of Penalties Imposed by the National Bureau for Revenue (NBR)

• Penalties applied to unregistered businesses charging VAT on supplies

Reporting / Compliance

• KPMG Fakhro GCC Tax News – 22 June 2023

• NBR VAT portal update

• KPMG Fakhro GCC Tax News – 19 April 2023
• KPMG Fakhro GCC Tax News – 12 April 2023
• National Bureau for Revenue (NBR) re-enables 5% field in VAT return and requests taxpayers to amend January and February 2023 returns
• KPMG Fakhro GCC Tax News – 06 April 2023

• National Bureau foRevenue (‘NBR’) Re-Enables 5% Field in VAT Return | Requests Taxpayers to Amend Jan & Feb 23 Return

• Reporting sales and corresponding adjustments at 5% in VAT return form re-enabled

Supply of Goods

• KPMG Week in Tax: 19 – 23 June 2023

• Did you Know? VAT Treatment for Stock made Available to Customer

Taxable Transaction

• Updated VAT Guides Concerning Treatment of Supply of Investment-Grade Gold

Tax Authorities / Penalties

• NBR has recently updated VAT General Guide

• Bahrain’s GDP Growth to Decelerate to 2.2% this Year: ICAEW

• KPMG Fakhro GCC Tax News – 15 June 2023
• KPMG Fakhro GCC Tax News – 24 May 2023
• Recent Case of Penalties Imposed by National Bureau for Revenue (NBR)
• Recent Case of Penalties Imposed by the National Bureau for Revenue (NBR)
• Penalties applied to unregistered businesses charging VAT on supplies

• KPMG Fakhro GCC Tax News – 29 March 2023