The National Bureau for Revenue (NBR) in Bahrain has released an updated version of the VAT Real Estate Guide that was first issued by the NBR in February 2019. In the updated version of the Guide, the NBR has provided additional guidance on the VAT treatment of land reclamation, ready-mix concrete, how to apply the zero-rate where a supplier receives advance and/ or installment payments, apportioning certain costs for zero-rating and standard rating on building an extension and when a certificate must be obtained by a supplier providing construction services in relation to a new building. The NBR has also extended the list of transactions in the Guide which are not treated as exempt supplies of real estate.
Source: PwC
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