Workshop on VAT held

The National Bureau for Revenue (NBR) held an interactive VAT workshop yesterday recapping general and sector-specific VAT concepts, including invoicing and filing. Following a ques - tion-and-answer session, 107 attendees representing 59 entities were given the opportunity to visit the unique interactive demo-centre that provides innovative learning experiences to ensure effective implementation of VAT.

The workshop was a continuation of the series of workshops organised by the NBR to provide an inclusive platform for all stakeholders from the public and private sector in order to increase businesses’ awareness of VAT return filing procedures ahead of deadlines. The National Bureau for Revenue (NBR) earlier highlighted that the VAT registration process is open for entities generating or expected to generate between BD 18,750 and BD 500,000 in annual revenues.

Concerned entities that wish to register early for VAT with the NBR will have the option of choosing the date to start implementing VAT until the end of the grace period, it said in a statement issued. The NBR stressed that collaboration and raising awareness on technical and procedural aspects of VAT are of utmost importance to ensuring the success of the VAT application process.

The NBR noted the positive co-operation provided by businesses regarding the proper application of VAT, adding that more than 4,500 entities have registered for VAT since its launch within the Kingdom on 1 January 2019. For further information, contact the Call Centre on 80008001 or email vat@ nbr.gov.bh, in addition to leveraging the information available on NBR’s website (www.nbr.gov.bh), Twitter, Instagram and YouTube channel (@bahrainNBR).