Introduction of VAT in Bahrain

On 1 January 2019 Bahrain became the third of the six GCC countries to introduce VAT, following Saudi Arabia and the United Arab Emirates one year earlier.  As per the terms of the Unified VAT Agreement signed by all the GCC States in 2016 the rate of VAT is 5%. In a departure from the…

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Poland Enforcing Split Payments

It has been confirmed that the Polish Authorities are planning on enforcing split payments for industries vulnerable to VAT fraud, in particular scrap metal, electronics, precious metals, steel and car parts for B2B transactions will come into force some time later this year. The impact on foreign businesses who currently settle by bank transfers which…

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