MORE than 1,000 commercial establishments have been inspected since the start of this year to ensure proper implementation of the readjusted Value Added Tax (VAT).
Around 98 per cent of the traders have properly paid the amounts to the National Bureau of Revenue (NBR) and 99pc have submitted statements.
The GDN previously reported that a fresh alert had gone out to businesses in Bahrain on the need to understand the NBR’s transitional guidelines with the new rate of 10pc VAT already in effect.
Details were revealed by Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa in a written response to Shura Council member Dr Mohammed Al Khozaie.
“More than 1,000 commercial establishments were inspected since the start of 2022 in collaboration with the NBR and the Industry, Commerce and Tourism Ministry’s Consumer Protection Directorate,” said Shaikh Salman.
“Routine inspections are conducted to ensure proper implementation of VAT and detect cases of tax evasion and violations and we have seen a great deal of adherence.
“Around 99pc of those registered have submitted statements while 98pc have paid the amounts due, which is the highest level of commitment across the globe.”
Shaikh Salman said that efforts will continue to raise awareness among companies through guides and direct communication via the 24-hour active hotline as well as auditing.
He also added that during inspections, violations are registered which may require administrative fines and in cases of tax evasion establishments are administratively closed and violators referred to concerned authorities.
Meanwhile, Housing Minister Bassem Al Hamer revealed that providing housing services to the middle class – with monthly income ranging from BD1,200 to BD3,000 – was unfeasible.
“The government provides housing for low-income citizens and this is stipulated in the constitution,” he said in a written response to Shura Council member Dr Bassam Albinmohammed.
“The Housing Ministry is sparing no efforts to provide various services to this category of citizens and no one else, such as units, apartments, financial services and Mazaya.
“All these services are tied with the condition that the beneficiaries’ income doesn’t exceed BD1,200 when applying.”
He added that new services – such as providing land and financing its construction – are in the pipeline with the mechanism to be announced following completion of the study.
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