VAT Audit in Bahrain is a process by which the National Bureau for Revenue (NBR) will assess whether the VAT payer complies with the Bahrain VAT Law. As per regulations issued by National Bureau of Revenue all the VAT payers could be subject to VAT Audit.The main reason for the VAT audit is to look into the accuracy of the VAT Return filed by the company for each VAT period and assess whether the net VAT liability declared is correct.NBR audit can cover one or more tax periods and the VAT Return filed. During the VAT Audit in Bahrain, the NBR scrutinizes all the data and documents that are to be maintained as per the Bahrain VAT LawVAT audits are difficult to manage and require a thorough understanding of Bahrain’s VAT law, Executive Regulations and GCC’s VAT framework.VAT audits are difficult to manage and require a thorough understanding of Bahrain’s VAT law, Executive Regulations and GCC’s VAT framework. Further we ensure that all the documents are maintained properly. If during the VAT Audit, the NBR finds any non-compliance or wrong reporting than NBR issue a VAT assessment decision to the taxpayer. The assessment notice shall be sent via mail or through the post.The VAT assessment issued will include the following: The facts, information and legal basis of the reassessment. The value of the Net VAT due after conducting the audit and the difference with the original return filed. The value of any penalties if applicable. The due date of payment of the net VAT due, if any. If a taxpayer does not agree with the NBR assessment, then he has the right to object the assessment to the VAT appeal Review Committee within 30 days from the date of notification of the assessment.Our experts ensure that the VAT audit are properly managed, and all the required queries are answered in best professional manner.Our team liase with the tax authorities on your behalf.
