- Bahrain’s E-Invoicing Consideration: Following the successful implementation of electronic invoicing in Egypt and Saudi Arabia, Bahrain is exploring its own e-invoicing system to enhance VAT compliance and tax collection efficiency, building on its VAT introduction in 2019 and subsequent rate increase to 10% in 2022.
- Goals of the E-Invoicing Initiative: The government’s initiative aims to improve transparency, reduce tax fraud, and provide detailed insights into economic activity, with the National Bureau for Revenue currently conducting a public consultation on the proposed system.
- Expected Benefits and Rollout: The phased rollout of the e-invoicing system, similar to Saudi Arabia’s approach, is anticipated to simplify administrative processes for businesses, aid in economic policy development through better data access, and support Bahrain’s fiscal balance program.
Source Comarch
Click on the logo to visit the website
