Over 1,000 enterprises register for VAT first phase

The Assistant Undersecretary for Development and Policy of Public Revenues at the Ministry of Finance and National Economy, Rana Ebrahim Faqihi, yesterday affirmed that over 1,000 local and international enterprises have registered for the first phase of the Value Added Tax (VAT) implementation – effective on January 1, 2019, at a standard rate of 5 per cent.

The Assistant Undersecretary highlighted the VAT registration process, noting that 668 enterprises have already received their VAT Registration Certificate and more than 500 companies have initiated the process of registration. The official said that the ministry’s call centre is fully prepared to provide swift general and technical assistance to taxpayers.

As of today, the call centre has successfully responded to more than 1,500 tax-related inquires of which 90 per cent were immediately settled by VAT experts, apart from promptly responding to more than 500 email inquiries, the official added. Faqihi went on noting that the National Bureau for Taxation (NBT) will continue to advance its multiple communication platforms well after the VAT’s induction to ensure information is suitably accurate and to continue to provide a platform, where citizens can report misconducts; such as charging VAT prior to induction and applying VAT on goods and services that are not subject to VAT.

Faqihi urged citizens to contact the call centre on 80008001 or vat@mof.gov.bh for general and technical inquiries in addition to taking advantage of the information available on the NBT’s website (www.nbt.gov.bh) and the information available on Instagram and Twitter platforms (@ NetworkNBT).