Following the guidance published in the VAT Retail and Wholesale Guide, the National Bureau for Revenue (NBR) has now issued further details on the VAT treatment of obsolete stock in the technical FAQs on their website. They have also made available the form to be used by taxpayers in order to notify the NBR of any obsolete stock that they intend to dispose of.
Source: PwC
Latest Posts in "Bahrain"
- Bahrain Updates VAT Registration Guide, Raises Penalties for Late Filing
- Bahrain Publishes Processing Timelines for VAT Registration and Profile Amendments
- Bahrain Updates VAT Deregistration Manual and Registration Guide
- Bahrain Updates VAT General and Retail-Wholesale Guides
- Bahrain Clarifies Eligibility for the VAT Profit Margin Scheme on Used Goods
