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Bahrain hosts VAT workshop for construction professionals
National Bureau for Revenue’s workshop aimed at smooth registration of companies earning $1.3-13m
Bahrain’s National Bureau for Revenue, a part of the kingdom’s government, recently held a value-added tax (VAT) workshop for construction professionals to boost clarity in the sector and support their registration for VAT, which Bahrain started levying in January 2019.
The session saw the bureau providing 45 representatives from 29 vendors a rundown on general and sector-specific concepts surrounding VAT, such as invoicing and filing.
The workshop was followed by a Q&A session, and a visit to an interactive demo center that offers a more hands-on understanding of VAT.
State news agency, BNA, reported that the session was part of National Bureau of Revenue’s goal to work as a platform for all public- and private-sector stakeholders to ensure streamlined company registration by June of firms with an annual income of $1.3-13m (BHD500,000-5,000,000).
VAT was made mandatory for companies in the UAE and Saudi Arabia last year, with Bahrain following suit in 2019.