VAT in Bahrain: Things you should know - suave technologies
Bahrain is all set to introduce a 5% VAT (Value Added Tax) from 1 st January 2019. VAT is also known as goods and services tax. It is expected to increase the value of goods and services including food stuffs, healthcare, medicines and more. WHO PAYS THE VAT IN BAHRAIN? Buyers and sellers of products and services should pay VAT. Each product will have a small amount of tax and the sellers pay the VAT to the government. You need to pay more than the original amount of the product. Every exporter or importer should pay VAT when goods/ products are imported to GCC. GET YOUR SAP READY FOR VAT! The basic requirement of every business is to upgrade or implement POS or ERP systems with VAT. It will affect all sales and purchase transactions of goods and services. Businesses should ensure their systems are compatible with VAT. ARE YOU LOOKING FOR VAT SOFTWARE IN BAHRAIN? Suave Technologies is one of the best VA...