Value-added tax (VAT) has now been live in the Kingdom of Bahrain for three months. VAT registered businesses will soon submit their first batch of VAT returns to the National Bureau for Revenue (NBR) next month. This would require accurate records keeping, showcasing correct VAT treatment to outgoing and incoming transactions.
KPMG in Bahrain is pleased to invite you to a seminar to review the lessons learned and the action points over the next month to help you ensure a seamless compliance in the first VAT returns reporting cycle. We will step away from concepts and review important and operational aspects that might be required to correct and improve your ongoing VAT compliance; and highlight regional applications and recommended approach by KPMG.
Who should attend
The seminar is aimed at adding value to Heads of Finance, Finance managers, Internal Auditors and COOs across all sectors. If you are looking to gain deeper insight on the impact of VAT on various business functions and the steps required to achieve cost-effective and added-value compliance, you will not be disappointed when attending.
During the event, our Tax team will shed light on the following topics:
— new insights on NBR’s approach in Bahrain
— challenges faced to date by tax payers and solutions
— Bahraini VAT compliance requirements and process
— KPMG’s compliance technology and methodology (turning compliance from risk to value add)
— actions before and after submission of the returns.
Philippe Norré, Partner and Head of Indirect Taxes at KPMG in Bahrain, will facilitate the discussion. He has a track record in providing VAT and indirect tax consultancy to key organizations across all industries including Financial Services. Most importantly, he has deep understanding of Bahrain and the region’s business environment. He has advised several Gulf Cooperation Council (GCC) government ministries on the development and implementation of their VAT laws and tax authority infrastructure. He has also advised companies and authorities on VAT and indirect taxes in Australia, India, Hungary and Armenia. This is in addition to serving as the personal advisor to the EU Commissioner for taxation.