- NBR is increasing efforts to ensure businesses comply with VAT and Excise regulations
- Conducted 343 visits in local markets in the first quarter of 2024
- Identified 36 VAT-related violations and imposed fines
- Uncovered cases of VAT or Excise evasion
- Penalties for violators include imprisonment and fines
- Emphasized collaboration between businesses and consumers for successful compliance
- Urged reporting of suspected violations through various channels
- NBR’s commitment to enforcing regulations is crucial for a fair business environment in Bahrain
- Businesses advised to familiarize themselves with regulations to avoid penalties
- Consumers play a pivotal role in vigilance against infractions
Source: newsofbahrain.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
