- The National Bureau of Revenue (NBR) in Bahrain is urging economic activities practitioners to register for VAT.
- Practitioners whose annual taxable supplies exceeded BHD 37,500 within the previous twelve months or are expected to exceed within the next twelve months should register.
- Over 22,800 entities have already registered for VAT.
- Economic activities include commercial, industrial, agricultural, professional, services, and other similar activities.
- Failure to register for VAT despite exceeding the threshold may result in imprisonment or fines.
Source: premier-brains.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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