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One time simplified VAT return in Bahrain

Year 2020 onward registered tax payer having annual supplies less than or equal to 3,000,000 have to file quarterly VAT returns. However, NBR announced that (enterprises subject to VAT) VAT payers, whose annual supplies are less than BD 100,000 will be able to submit...

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Depreciation on assets for income tax in Bahrain

Reasonable amounts for the depreciation obsolescence, exhaustion, and depletion during the taxable year of properties used by the taxpayer in trades or businesses from which income taxable under this Law may be derived - such amounts for each taxable year shall be...

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Deductions from the income for income tax in Bahrain

In the computation of income the following items, where so ever incurred, shall be allowed as deductions: The reasonable cost to the taxpayer of crude oil or other natural hydrocarbons produced from the ground in Bahrain, and of finished or semi-finished products...

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Is Income tax applicable in Bahrain?

Income tax is levied at the rate of forty-six per cent (46%) on the income derived in each taxable year by each body corporate, establishment or company, wheresoever established or incorporated, directly engaged in exploration for or production of crude oil or other...

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VAT overview for unregistered dealers

Why accounting is necessary even for persons not registered under VAT? From registration perspective: If the value of supplies in the Kingdom exceeds the Mandatory Registration Threshold of 37,500 BHD over the previous 12 months, the person must notify the NBR within...

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Mandatory registration under Bahrain VAT

The mandatory threshold for registration is 37,500 BHD (or its equivalent in the GCC State currencies). The Ministerial Committee has the right to amend the Mandatory Registration Threshold after it has been in force for three years. A Resident Taxable Person is...

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VAT on modification or change in supply

A Taxable Person may adjust the value of the Supply and the Tax due for the Tax Period during when any of the following conditions occur at a date after the date of Supply: Cancellation or rejection of the Supply in whole or in part. Reducing the value of supply....

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Place of Supply of Electronic Services

As per the general provision the place of Supply of telecommunications Services and electronic Services shall be in the Kingdom if they are used and enjoyed in the Kingdom to the extent of such enjoyment and use. Supply to a taxable person The place of Supply of...

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Place of Supply of Services related to real estate

A Supply of Services is considered to relate to real estate where the Supply of Services is directly connected with the real estate. The place of Supply of Services related to real estate shall be where the real estate is located, and such Supplies shall include, but...

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Place of supply

Place of supply in the Kingdom The place of Supply in the Kingdom shall be in the following cases: If the Goods are placed at the Customer’s disposal in the Kingdom for Supply of Goods that occurs without transportation or dispatch If the Goods are present in the...

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