KPMG in Bahrain to Host a Seminar on Bahrain’s VAT Law

Audit, Tax and Advisory firm, KPMG in Bahrain, is hosting a seminar to showcase the key highlights of Bahrain’s VAT law and its’ implications on businesses across the main economic sectors. The half-day event will take place on Tuesday, 30 October 2018, at the Gulf Hotel under the theme “60 days to VAT: what to do and what maybe not?“. 

In October 2018, the government of the Kingdom of Bahrain has published the VAT Decree-Law No. (48) in the official gazette after both the Shura Council and Parliament voted in favor of the VAT bill to be introduced on 1 January 2019. Once implemented, businesses within an annual supplies threshold of USD100,000 (BD 37,700) will need to administer, record, assess and report VAT obligations as well as VAT refund entitlements for their business transactions inside and outside of Bahrain, and submit them to National Bureau for Gulf Taxation within specific timeframes.

Being 60 days away from the big change, companies need to fully understand the VAT law and make the necessary changes to comply with the new tax regulations. During the event, KPMG tax experts will present practical steps companies can takes today to be VAT ready in time based on the published law the lessons learnt from the other GCC VAT implementing countries. For registration, and more information, please contact Khalid Seyadi, Senior Marketing Executive at KPMG in Bahrain, kseyadi@kpmg.com.

KPMG in Bahrain is a member firm of KPMG international. The firm was established in 1968 as the first national accounting and auditing firm, and it has grown to be one of the largest professional services firms in the country. The firm provides Audit, Tax and Advisory services to a wide array of clients operating in different sectors, utilizing the in-depth technical and industry experience of its’ professional staff.