fbpx

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 more

VAT 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 more

VAT registration – Second phase in Bahrain

All entities subject to VAT or expected to generate between BHD 500,000 and BHD 5,000,000 in annual supplies are required to obtain VAT registration by June 20th, 2019. Steps for Registration In order to register for VAT, you must follow five key steps: Create an NBR...

read more

VAT free food products – Bahrain

List of food products which are VAT free in Bahrain as notified by NBR are: Water Natural water | Artificial mineral water | Ice | Sparkling water and Soda Water (Except sweetened and fl­avoured) Milk Milk: Fresh or long life milk (the types available in the market)...

read more

Certificate of Refund Entitlement for Expo 2020 Dubai

What is the Certificate of Refund Entitlement? An Official Participant of the Expo 2020 Dubai (both registered and not registered for VAT) must apply for a Certificate of Refund Entitlement before attempting to reclaim VAT on Goods and Services without the need to use...

read more

How to compile data for VAT return?

How to file VAT Return? The VAT Return Form is the official document summarizing for a given tax period, the total output tax due and the total input tax recoverable. The form is the same, whether a taxpayer is subject to quarterly tax periods or monthly ones....

read more

VAT on services by Banks in Bahrain

Certain services typically performed by banks and similar organisations in connection with the operation of current, deposit or savings accounts.  Services of operating bank accounts might notably include the following: Provision of debit cards Provision of cheque...

read more

VAT on currency conversion services in Bahrain

A financial service will be exempt from VAT if the income earned by the supplier is by way of interest, a profit margin akin to interest or by way of an implicit margin. The implicit margin condition is usually met when the supplier specifically seeks to generate...

read more

Pin It on Pinterest