GP VAT Implementation Bahrain

Prepare your business for all VAT requirements

The Bahrain government is implementing a 5% value-added tax (VAT), and effective by 2019, businesses at each step of the supply chain will be required to charge VAT on most goods and services. Companies must register for VAT, must clearly indicate how much VAT they are charging in each transaction, and must also retain business records for five years to facilitate tax audits.

Make sure your organization is VAT-ready in time.

According to the Bahrain Ministry of Finance, businesses “may need to make some changes to their core operations, their financial management and book-keeping, their technology, and perhaps even their human resource mix (e.g. accountants and tax advisors)”. Do you have a plan in place for meeting the fast-approaching January deadline? To avoid legal repercussions, it is essential that you fully comply with all VAT-related requirements.

Properly configure your ERP platform for VAT.

Which of your goods and services are VAT-exempt? Does your business software correctly calculate VAT on each of your products? Does VAT grouping apply to your business? To ensure total and timely VAT compliance, you need an experienced implementation partner. Please contact OSTech Co. for help with fast-tracking all localized changes to Microsoft Dynamics  GP or RMS that enable VAT transaction processing in full accordance with government regulations, and for enabling secure, multi-year cloud archival of all of your business records using Microsoft Dynamics ERP.

Next Steps

OSTech Co. is offering complimentary VAT consulting sessions to make sure organizations are fully prepared. Time is short, so get in touch with OSTech Co. today to schedule your free consultation.