Our firm provides a complete package of VAT related services in Kingdom of Bahrain, Our specialists and VAT Expert identify your underlying needs and deliver the best possible Services in Kingdom of Bahrain.

Services are:
✔ VAT Registration in Bahrain
✔ VAT Implementation Support
✔ VAT Training in Bahrain
✔ VAT Filing in Bahrain
✔ VAT Refunds
✔ Redesigning Accounting and ERP system in accordance with VAT Regulation

There are no taxes in Bahrain on income, sales, capital gains, or estates, with the exception, in limited circumstances, to businesses (local and foreign) that operate in the oil and gas sector or derive profits from the extraction or refinement of fossil fuels (defined as hydrocarbons) in Bahrain.
Currently there is no Corporate Tax in Kingdom of Bahrain but there is a requirement of Statutory Audit for any WLL Company operate in Kingdom, as a part of CR Renewal and Anti Money laundering is strict.
Besides ESR filing is mandatory for a specific area of business community

Social security contributions
The current rate of contributions to the SIO is 19% for local employees (12% employer; 7% employee) and 4% for expatriate employees (3% employer; 1% employee). These contributions to the SIO are to be withheld by the employer and remitted to SIO on a monthly basis.

Consumption taxes
Value-added tax (VAT) and excise duty
VAT was implemented in Bahrain on 1 January 2019.

Net wealth/worth taxes
There are no net wealth/worth taxes in Bahrain.

Local taxes
Individuals may also be subject to stamp duties, customs duties, and municipal taxes.

Audit simply refers to examine and give comments on the items verified. Financial audit implies an examination of the books of accounts and other relevant records. This will provide the auditor, necessary information to give his opinion, whether the accounts are properly maintained and complied with necessary statutory, accounting or financial reporting and auditing standards.

A financial statement audit is an independent appraisal of the financial statements prepared by the organization. The basic objective of a financial statement audit is to provide an independent or third-party assurance that the management has, in its financial statements, presenting a “true and fair” view of a company’s financial performance.

A feasibility study is a detailed analysis that considers all of the critical aspects of a proposed project in order to determine the likelihood of it succeeding.

Success in business may be defined primarily by return on investment, meaning that the project will generate enough profit to justify the investment. However, many other important factors may be identified on the plus or minus side, such as community reaction and environmental impact.

Although feasibility studies can help project managers determine the risk and return of pursuing a plan of action, several steps should be considered before moving forward.

KEY TAKEAWAYS:
✔ A company may conduct a feasibility study when it's considering launching a new business, adding a new product line, or acquiring a rival.
✔ Feasibility study assesses the potential for success of proposed plan or project by defining its expected costs & projected benefits in detail.
✔ It's a good idea to have a contingency plan on hand in case the original project is found to be infeasible.

In GCC investors would usually go for incorporating a Limited Liability company (LLC) or With Limited Liability ( WLL) Licences or Commercial Certificates ( CR) ,Hence the below procedure for company registration in GCC would be for incorporating an LLC or WLL. The following procedure must be followed by an applicant for company registration in General.

A financial statement audit is an independent appraisal of the financial statements prepared by the organization. The basic objective of a financial statement audit is to provide an independent or third-party assurance that the management has, in its financial statements, presenting a “true and fair” view of a company’s financial performance.

Reserve Name
Then the applicant has to choose a relevant name for the LLC or WLL,It also must be provided in Arabic and have a legal meaning in Arabic. Reserve name procedures have some slight change in country to country

Choosing the activities carried out in the business
First and foremost, the applicant must choose the activities which are carried out by the WLL, some activities required special permission.

Bank Account Opening
Before the submission there must be bank account & deposit a minimum required amount prescribed based on the share.

Submit Documents
The Ministry of Commerce and Investment or Economic Department may take time to get back to the applicant. During this time, the applicant would have to ensure that all the documentation for company registration include the memorandum of association and articles of association of the company.

Accounting is a very important activity that is to be performed diligently by the management, but it is also true that Accounting can be very time taking and repetitive. This is why most of the companies require external assistance while conducting the accounting activity for the business. Some company outsource the Accounting Function of the company to a third party for better results.

What is Accounting Outsourcing Services?
A business has two options to maintain the Accounting services.
✔ It can either keep a separate Accounting Department in-house.
✔ It can allocate all the business accounting activities to a third party.

In the first option, the business will be able to use the services of the accountant whenever required, but the costis high, and other legal formalities like issue the visa & other benefit may high

The second option is known as Outsourcing the accounting function of the department, and it will help save a lots of money and resources for the company. Moreover the outsourced accountant or firm are the expert of multiple accounts back ground they have enough market knowledge of the same field of operations

Outsourcing the accounting functions will help an Owner to focus properly on the business’s Key Areas . It will also help the management to save the time and various resources of the company.