The NBR (Bahrain tax authorities) provided taxpayers with additional guidance on the VAT Rate increase. The document includes various examples and makes it easier for the taxpayers to understand the transitional rules.
Value Added Tax was introduced in the Kingdom of Bahrain in 2019 at a standard rate of 5% on all supplies and imports, with the exception of supplies that are subject to VAT at the zero-rate or exempt from VAT. With effect from 1 January 2022, the standard rate of VAT will be changed to 10%.
The document can be downloaded from here:
*This document was first shared by Mr. Mubeen Khadir on Linkedin.
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