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VAT on sale of business

There are three common ways in which a business can be sold: Sale of asset Sale of business ownership by sale of shares Sale of business as a going concern VAT applicability is different in each of the three mentioned scenarios. 1.       Sale of asset: Normally, when...

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...
VAT on services by Banks in Bahrain

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...
Import Export under Bahrain VAT

Import Export under Bahrain VAT

Conditions for export of service under VAT Export of services will attract a zero rate of VAT provided all of the following conditions are met: The customer receiving the service does not have a place of residence in Bahrain. The customer must not be present in...

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