VAT on farmhouse
Farmland is normally be considered to be commercial land, i.e. not “bare” land, as it is normally covered with infrastructure or civil engineering works required to make it operational as a farm e.g. irrigation systems, roads, utility connections, etc. Farmland which...
read moreSale of imported goods under Expo 2020 Dubai
It should be noted that the Official Participant must register for VAT if the value of their taxable supplies or imports (for commercial or non-official purposes) in the UAE exceeds, or is anticipated to exceed, the mandatory registration threshold of AED 375,000. For...
read moreRefund of eGuarantee in case of loss of imported goods
VAT 702 is a form provided by the Federal Tax Authority (“FTA”) pursuant to which a nonregistered importer notifies the FTA to either cancel or liquidate an eGuarantee or to refund or collect an eDirham deposit. In line with the relevant legal provisions, there would...
read moreRefund of eGuarantee and eDirham by non-registered importer
VAT 702 is a form provided by the Federal Tax Authority (“FTA”) pursuant to which a nonregistered importer notifies the FTA to either cancel or liquidate an eGuarantee or to refund or collect an eDirham deposit. In line with the relevant legal provisions, there would...
read moreProcedure to file refund under VAT form 702
How to file VAT 702? VAT 702 is a form provided by the Federal Tax Authority (“FTA”) pursuant to which a nonregistered importer notifies the FTA to either cancel or liquidate an eGuarantee or to refund or collect an eDirham deposit. When should you submit a VAT 702?...
read more
VAT refund to tourists in Bahrain
VAT TOURIST REFUND SCHEME Tourists to the Kingdom of Bahrain may claim a refund on the VAT paid on purchases made within the country, in accordance with Article 89 of the executive regulations. VAT can be reclaimed at a dedicated desk located in Bahrain International...
read moreGuidance note for VAT on Education in Bahrain
VAT refund for participants of Expo 2020 Dubai
The method for claiming a VAT refund on the four categories of expenses will differ depending on whether or not the Official Participant is registered for UAE VAT. Four categories of expenses eligible for a refund are: The VAT incurred by the Official Participant on...
read moreVAT impact analysis
The implementation of VAT is part of Bahrain’s commitment to The Unified Agreement for Value Added Tax of the Cooperation Council for the Arab States of the Gulf, which was signed by all GCC member states in 2016. It is an indirect tax charged on consumption and is...
read moreVAT on Education in Bahrain – Guidance note
...
read more
