Bahrain extends VAT registration deadline
- Dec 24, 2019 | Richard Asquith
Bahrain has extended the registration deadline for small businesses until 26 December – an extra week. This last of three waves of registrations since the introduction of 5% VAT covers businesses with an annual turnover between BHD 37,500 and BHD 500,000.
The fine for failing to register on time is BHD 10,000. If the taxpayer is then not registered within 60 days of passing the threshold, a jail sentence may be imposed.
Bahrain implemented VAT at this start of 2019. It is the third Gulf State to do so, following Saudi Arabia and the UAE. The other three member states of the Gulf Cooperation Council - Qatar, Kuwait and Oman – have yet to confirm dates to join the Gulf VAT union.