Oman introduced Value Added Tax (VAT) on April 16, 2021, as part of its economic diversification strategy. With a standard VAT rate of 5%, businesses operating in the Sultanate are required to comply with regulations set by the Oman Tax Authority. For many companies, navigating the complexities of VAT law can be challenging. That’s where BMS Audi
The Kingdom of Bahrain implemented Value Added Tax (VAT) on January 1, 2019, in line with the Gulf Cooperation Council (GCC) VAT Agreement. Administered by the National Bureau for Revenue (NBR), VAT registration is mandatory for businesses meeting certain thresholds. At BMS Auditing, we help businesses in Bahrain navigate the VAT registration proce
The Kingdom of Saudi Arabia introduced Value Added Tax (VAT) on January 1, 2018, as part of the GCC framework to diversify revenue sources. Regulated by the Zakat, Tax and Customs Authority (ZATCA), VAT registration is mandatory for qualifying businesses. At BMS Auditing, we help companies understand their VAT obligations and ensure a smooth regist
Since the introduction of Value Added Tax (VAT) in the UAE on January 1, 2018, businesses operating in the country have been required to comply with the Federal Tax Authority (FTA) regulations. VAT registration is one of the key obligations, and failure to comply can result in penalties. At BMS Auditing, we assist companies in navigating the VAT re