The Bahrain British Business Forum and BDO hosted a meeting at the Gulf Hotel Convention Centre to discuss the upcoming introduction of VAT in Bahrain. The meeting featured BDO Bahrain’s VAT specialists Smita Roy, BDO Partner (Leader VAT) and Marlon Appleton, BDO Senior Manager (VAT), as the guest speakers.
More than 130 BBBF members were given a presentation by Roy and Appleton, who provided the latest information from the Ministry of Finance about the implementation of VAT in Bahrain on 1 January 2019. The presenters also shared their collective experience from the implementation and practice of VAT in Saudi Arabia, the UAE and the UK.
Roy said: “To avoid many of the pitfalls experienced by businesses in Saudi Arabia and the UAE, it is important for businesses to have an action plan for VAT readiness to ensure a smooth transition to VAT.” The meeting concluded with an interactive Q&A session, where the many concerns and questions regarding VAT by the audience were answered by the presenters.