The Ministry of Industry, Commerce and Tourism (MOICT) of Bahrain on sunday confirmed, it has reacted to an aggregate of 224 VAT related complaints addition in over 1,130 VAT inquiries, since its enlistment on January first, 2019, according to Gulf Insider.
The Ministry's 'Companies Control’ and ‘Consumer Protection’ directorates have reviewed in excess of 430 vendors over the Kingdom to guarantee the right application of the VAT.
The development all things considered and benefit is ceaselessly being observed as per the recently published list of basic food items that are not subject to VAT, says reports.
Intrigue installments on loans, deposits, currencies trading, issue or transfer of ownership of securities (equities or debt), and disaster protection and reinsurance contracts are not exposed to VAT, the CBB featured.
Over 94 goods and services have been exempted from VAT, as indicated by authorities.
Image: Gulf Insider
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