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Ravi Soni

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OMAN VAT: Solving The Registration Dilemma

March 11, 2021 3765 Views 0 comment Print

The Sultanate of Oman is due to implement Value Added Tax ‘VAT’ from 16th April, 2021. The Sultanate of Oman like its Gulf peer, Kingdom of Bahrain, has adopted a phased approach for Implementing VAT in its country. The Tax Authority has released a Transitional Registration guide that proposes a four phase VAT Registration Programme […]

Tax odds in favor of Bahrain

June 18, 2020 819 Views 0 comment Print

Two Negatives maketh a Positive. Not so often, but sometimes, this mathematical formula does apply to real life economic situations. With the omnipresent Covid Pandemic there is no searching for the first negative, and second negative is the dire state of economy of Bahrain’s neighboring country Saudi Arabia. New economy revival measures announced by Saudi […]

Bahrain – Draft VAT Law (Unofficial Version)

October 16, 2018 1314 Views 0 comment Print

This is an Unofficial English Translation of the Draft Bahrain Value Added Tax Law. Chapter 1 – Preliminary provisions Article 1 – Definitions (1) The Kingdom: The Kingdom of Bahrain including all its lands and its subsoil and territorial waters adjacent to it and the seabed, and all that is vested in sovereign rights in […]

UAE VAT FAQ’s – Gems And Jewellery Sector

August 12, 2018 5481 Views 1 comment Print

Jewellery in UAE is known for its purity, variety and competitive pricing compared to various other markets. These factors have been the key drivers of demand for gold jewellery in UAE. With the advent of VAT in UAE there has been a lower side shift in market, consumers in general are yet to understand the nuances of the law and adapt to the evolving VAT introduced in UAE. On the brighter side, the recent applicability RCM for wholesalers has been a welcome change for many.

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July 2024