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Find out moreWe are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.
Read the full editionBusinesses with an annual taxable turnover between BHD 500,000 and BHD 5,000,000 are required to register by 20 June 2019. This requirement follows the Bahrain Ministry of Finance’s (MoF) previous announcement that VAT registration will be launched in three phases.
Businesses should consider the VAT treatment of their transactions to ascertain whether they are required to register for VAT. While the phasing of the requirement for businesses to register for VAT provides some transitional relief to businesses, it is important that businesses should commence their preparation for VAT immediately.
Al Tamimi can advise you on whether you are required to register for VAT and assist you with a VAT impact assessment or perform a second review to confirm the VAT treatment of your transactions. Please click here for our brochure on VAT implementation in Bahrain.
Please do not hesitate to contact Al Tamimi’s Tax Team if you require any assistance.
Click here to follow Al Tamimi’s Tax Team’s LinkedIn page for more updates on tax developments in the Middle East.
Shiraz Khan
Head of Taxation
s.khan@tamimi.com
Foutoun Hajjar
Partner, Head of Office – Bahrain
f.hajjar@tamimi.com
Rad El Treki
Head of Corporate Structuring – Bahrain
r.eltreki@tamimi.com
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.