Bahrain limits VAT to large companies

The Ministry of Finance has confirmed the planned January 2019 implementation of 5% VAT will be initially limited to large tax payers.  The roll out of VAT registrations will be as follows:

• 1 Jan 2019 – businesses with annual turnover about BD 5million (register by 20 Dec 2019);
• 1 Jul 2019 - businesses with annual turnover between BD 500k and BD 5million;
• 1 Jan 2020 - businesses with annual turnover between BD 37.5k and BD 500k.

Any company with a taxable turnover above BHD18,750 may now register.