The Minister of Industry, Commerce and Tourism (MOICT), HE Zayed bin Rashid Al Zayani, today affirmed that MOICT’s 'Companies Control' and 'Consumer Protection' directorates have intensified their VAT inspection efforts following its induction on January 1st.
In this regard, HE the Minister highlighted the mechanisms that MOICT has implemented to ensure the correct application of the VAT, preventing businesses from charging VAT on goods and services that are not subject to VAT.
HE went on noting that Bahrain's VAT Law and its Executive Regulations clearly outline the penalties for non-complaince, which include hefty fines, administrative closure and referring cases to the Public Prosecution.
HE concluded by emphasizing that the ministry's inspection efforts will include closely monitoring the movement of goods and services across the Kingdom, reminding investors to comply with the Kingdom's laws and regulations.
Consumers may report violations by calling 80008001.