ARE YOU READY FOR BAHRAIN VAT ?
No time to spare. Get prepared now.

Now that the government of Kingdom of Bahrain has declared the implementation of VAT Bahrain starting from January 1, 2019, many companies and establishments would like to know the compliance requirements to avoid the hefty penalties that they might face. Contact us to clarify any doubts.

Bahrain VAT is around the corner. Most consumer goods and services will attract Bahrain VAT, which poses a challenge to business enterprises as they are required to prepare themselves for the impact. If you haven’t made your company “VAT-ready” by now. It is high time that you start. Let our experts expedite this change and ensure an appropriate implementation.

A VAT Bahrain return is the official document to be completed by the Taxable Entity and submitted to the Tax Authority at regular intervals determined by the annual turnover of the entity and detailing any output tax due and input tax recoverable and including any other information that is required to be provided. Confused? Let’s handle this for you.

The implementation of Bahrain VAT will challenge all aspects of businesses including internal and external stakeholders, processes, business models, supply chains, payment terms, and pricing strategies. Our experienced team of accountants will help your organization gain insight of the upcoming challenges and address the possible impacts on your business.

Since you might be experiencing Bahrain VAT regulations for the first time, there is a chance that you may end up paying some unnecessary taxes which could have been avoided if you were guided properly. We not only advise you on all VAT related issues, but can also help you file accurate VAT returns and avoid overpayments.

VAT is generally subject to constantly changing legislations and policies especially if it is newly implemented such as the case with the Bahrain VAT law. This makes it even more challenging and complex as the financial service team needs to be very proactive in understanding and implementing the latest taxation norms as applicable in the instant case. Through utilizing our VAT services, clients will be able to hand over the responsibility of computing the VAT payable and processing VAT returns. They will be able to focus more on growing their business while we process their returns quickly and accurately.

For small to mid-sized businesses with limited staff and resources, it would be cost effective to opt for outsourced bookkeeping services rather than hiring inhouse accountants. This shall enable such business owners to focus more on business growth and relieve them from the responsibility of maintaining their accounting records.

A true and fair representation of financial statements is required by any organization in order to facilitate tax preparation or VAT preparation and auditing procedures generally undertaken at the end of the financial year. Although it is not advisable to do so, some companies may opt to postpone the preparation of their financial statements until the end of the year or just before the financial audit. This can be an overwhelming task even for the most experienced accountant. In such cases, professional accounting firms such as ours will be able to provide the required support.

There are some transactions that may occur only once throughout the life of a company. In other cases, the same transaction can have multiple accounting treatments which may all be valid. To help companies wade through the technicalities and complications of financial reporting and report transactions accurately and in the most advantageous manner, you can contact us and ask for consultations on those specific transactions.

Companies may have a complete accounting team in place however, at times, they may find themselves in need for extra hands on deck. Instead of hiring redundant employees who will only be really doing any work for a few days in a month, Capital Profits Accounting Services Bahrain will be glad to provide qualified accountants to help perform the tasks required on a per hour or per day basis.

To make informed decisions, you need accurate information. Most business owners will base their decisions on raw data which can be overwhelming. Capital Profits will be able to transform raw data into useful information. The real power of analytical reporting and data visualization lies in its ability to display unexpected findings in a clear and self-explainable manner. To help bring life to data, Capital Profits can produce visualized and graphical dashboards that deliver information easily and quickly.