The National Bureau for Revenue (NBR) took a significant leap in enhancing tax procedures by issuing an updated edition of the Value Added Tax (VAT) General Guide in November 2023. This revision empowers VAT-registered individuals and entities to independently handle VAT invoices, credit/debit notes, all in electronic form, without requiring prior approval from the NBR.
Previously, the NBR had initiated a search for a technology partner to build and manage a centralized e-invoicing platform. However, specifics regarding the scope and timeline of this impending e-invoicing system remain undisclosed at present. Nonetheless, this recent VAT guideline update signals a forward-thinking move towards the complete digitization of tax protocols within Bahrain.
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