VAT impact on Bahrain business in spotlight

Experts from KPMG to review requirements and best practices in tax accounting

  

MANAMA: Key learnings during the first 1,000 days since the introduction of VAT in Bahrain will be discussed during an online seminar by KPMG this Wednesday.

With the aim to decode the journey, the professional services firm’s Bahrain tax team will highlight the impact VAT might have had on the marketplace or may develop in the future.

Commenting on the upcoming event, Mubeen Khadir, partner and head of taxes and corporate services at KPMG in Bahrain said, “Looking back at the previous VAT cycles, lack of knowledge about the registration process and the inaccurate record-keeping and tax accounting remain among the main challenges faced by businesses in Bahrain. As we are approaching the 1,000 days of VAT landmark, I encourage all eligible businesses and business owners to attend the seminar to gain insight on the lessons learnt from the previous phases and the recommended solutions.”

During the session, experts from KPMG will review requirements and best practices in tax accounting, which is crucial for businesses to ensure ongoing VAT compliance.

They will also address any issues raised by the participants.

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