Manama, Sept. 03, (BNA) The National Revenue Authority (NTRA) announced the continuation of the stage of registering companies and establishments for value added.The total number of companies and establishments registered since January 1, 2019 to date is more than 4500 companies and establishments, in continuation of the efforts undertaken by the Authority to achieve implementation […]
19 Sep 2019 Manama, Sept. 19 (BNA): HM King Hamad bin Isa Al Khalifa issued Decree 72/2019 appointing Rana Ibrahim Faqeehi as Chief Executive of the National Bureau for Revenue, with the rank of ministry undersecretary. The decree will be implemented by the Minister of Finance and National Economy from its issuance date and will […]
Gulf kingdom also made 220 government services VAT-exempt for citizens Bahrain has decided to scrap fees on up to 200 government services, it was announced in a cabinet meeting on Monday, according to a report by the Gulf Daily News website. While the list of services which would now be free was not named in the report or […]
MEDIUM-SIZED enterprises and a substantial number of small businesses must register for VAT by Thursday. It marks the second phase of VAT rollout and businesses with turnovers exceeding BD500,000 have to register, with the consumption tax being applied on them from July 1 . Courtesy: www.gdnonline.com
Tax has become an important step towards ensuring region’s socio-economic resilience Following the signing of the Common VAT Agreement by GCC member states, value-added tax (VAT) has become an important step towards ensuring the region’s socio-economic resilience. The new tax regime is a proactive policy meant to diversify the GCC economy, bringing fundamental positive changes […]
International Monetary Fund hails success of VAT system in Saudi Arabia, says 5% rate could be raised in consultation with other Gulf countries IMF urges Saudi Arabia to mull VAT rate increase The IMF report said Saudi government spending has risen, supporting growth but raising medium-term fiscal vulnerabilities to lower oil prices. Economic reforms in Saudi […]
NBR announces the opening of a new VAT refund desk for visitors at Bahrain International Airport.
National Bureau of Taxation changed their name to National Bureau for Revenue (www.nbr.gov.bh)