Bahrain, 17 September, 2024 : One of the key updates in this version pertains to the VAT treatment of the rental of retail and promotional stands. The updated section specifies that starting 1 January 2025, the provision of space for retail or promotional stands (such as those in shopping malls, retail, or entertainment areas) will no longer be classified as an exempt supply for VAT purposes, regardless of the rental duration. These supplies will be subject to a 10% VAT rate if the provider is a VAT-registered entity.
However, designated spaces within shopping malls, retail, or entertainment areas that serve the same purpose as standard shops will continue to be treated as exempt from VAT, provided they meet the necessary conditions set out in section 2 of the guide.
This update provides greater clarity for businesses operating in the retail and promotional sectors and reinforces the NBR's commitment to maintaining transparency and compliance in Bahrain’s VAT framework.
Click link to access
Source : www.nbr.gov.bh
Related Posts
Bahrain, 27 September, 2024 : Bahrain is on track to meet its Fiscal Balancing Programme goals,...
Read MoreBahrain, 27 September, 2024 : Bahrain and Thailand are working to enhance their trade relations...
Read MoreBahrain, 27 September, 2024 : Bahrain's non-oil exports (National Origin) in August 2024 totale...
Read More