The tax landscape continues to evolve rapidly, particularly in respect of value-added-tax (VAT). Such changes will have a direct impact on businesses of all sizes, specifically given that VAT registration is now open for entities who have taxable supplies of BD 18,750 to 500,000, with a deadline to register being set at December 2019, which will conclude VAT implementation across Bahrain.
Further, we have witnessed the Economic Substance Requirements guidelines being launched in the UAE, with a compliance deadline set to 31 December 2019, with ongoing discussions of a similar such structure across Bahrain to be rolled out given the formal announcement in November 2018.
This Tax matters insights summarises the ongoing guidance and changes which businesses need to be aware of across Bahrain. To discuss any of the elements in this series, please feel free to contact us