MANAMA: More than 50 per cent of businesses in Bahrain would need to be registered with the National Bureau for Revenue by July 1, when the second phase of Value Added Tax (VAT) rollout takes effect.
Businesses that have turnovers exceeding BD500,000 need to register mandatorily by then, whereas it is voluntary for companies with turnovers of BD37,500 and above, for whom the deadline is December 20 .