VAT in Bahrain has been saved
VAT in Bahrain
Are you ready for implementation?
Bahrain has now issued its VAT Draft Law in Arabic and approved the introduction of VAT effective from 1 January 2019 at the expected standard rate of 5%.
The introduction of VAT will be a big challenge for the local Bahrain market. Businesses from a largely non-tax environment will be required to meet significant obligations critical to the operation of the new VAT system.
Deloitte has developed an approach and methodology to support businesses during this crucial time. This document, available in English and Arabic, provides helpful tips on how to best prepare for VAT, as well as actions that should already be under way.
From our VAT implementation experience in the UAE, KSA and other countries, businesses need to start preparing early, to ensure readiness and day one compliance.