Bahrain progresses VAT e-invoicing launch – 2024

September 9, 2022by TPA Global0

Type: Legislation

Following a public survey, Bahrain’s National Bureau for Revenue has released a launch plan for electronic invoices that could go live in January 2024. The National Bureau for Revenue of the Kingdom of Bahrain has started a survey to determine the amount and type of VAT invoicing on the island in the Arab Gulf. The requirements include completing a required questionnaire on e-invoicing usage and invoicing volume patterns. The planning for the introduction of electronic invoicing is likely to use this information. 

The Bahrain NBR is currently looking for proposals for the implementation of an e-invoicing system. 

Bahrain is most likely to adopt the Saudi model, which calls for taxpayers to first be able to send and receive electronic invoices before moving on to a model involving government pre-clearance. 

 A launch date has not yet been announced, but January 2024 seems likely given the time needed to develop a framework, develop IT systems, and give businesses time to prepare. 

Effective date: January 2024 

Source

 

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