Since the VAT is expected to be introduced in Bahrain in the second half of 2018, KPMG just launched a mobile application ‘KPMG VAT Toolkit” which will help in assisting businesses operating in the country, understand the value-added tax (VAT) and as well evaluate its impact on the company’s operations.
The VAT Toolkit contains everything that businesses need to make their transition to the VAT a whole lot easier. This includes up-to-date information, insights from KPMG’s subject matter experts and practical tools, best practice information from around the world and all lessons learned from Saudi Arabia and the UAE. Additionally, the toolkit features a VAT Compliance Tool, which familiarizes users with the upcoming VAT compliance, and their VAT payable or recoverable position.
Philippe Norre, partner and head of Tax at KPMG in Bahrain commented on the toolkit saying: “KPMG VAT Toolkit offers a wealth of readily available VAT knowledge presented in a very practical way and accessible to anyone, anywhere, using their mobile devices. Our value-add VAT Compliance Tool provides valuable information for business owners on the developments their predicted VAT position and will be kept updated and valuable once the tax is introduced.”
The app is available for free download on Apple Store and Google Play Store.