Bahrain Tax Agency Issues 2022 VAT Guides on Return Filing, Simplified Returns, in English

The Bahraini National Bureau of Revenue Feb. 1 posted online two guides, in English, explaining VAT return filing and simplified VAT returns for periods in 2022. Topics covered include: 1) the standard VAT rate increase to 10 percent from 5 percent; 2) the procedure to file returns; 3) the tax treatment of transitional provisions; 4) taxpayer eligibility for 2022 simplified procedures, including that taxpayers must not be registered as a group and their supply value must be under 100,000 Bahraini dinars (US$265,957); 5) the procedure to file adjusted returns, zero-rated or exempt returns, and apportionment on simplified VAT returns; 6) ...