Article 48 - Tax Period

A. The Tax Periods shall be as follows:

1. One calendar month for a Taxable Person the value of whose annual Supplies declared for Tax registration purposes exceeds three million Bahraini Dinars.

2. On a quarterly basis for a Taxable Person the value of whose annual Supplies declared for Tax registration purposes does not exceed three million Bahraini Dinars, and shall be in accordance with the following periods:

a) First Tax Period: 1 January to 31 March,
b) Second Tax Period: 1 April to 30 June,
c) Tax Period Third: 1 July to 30 September,
d) Fourth Tax Period: 1 October to 31 December.

B. Notwithstanding the provisions of Paragraph A of this Article, the Bureau may adjust the Tax Period of a Taxable Person for reasons that they determine. The Bureau shall notify the Taxable Person of the new Tax Period no later than three months prior to the effective date of the new period.

C. The Taxable Person the value of whose annual Supplies does not exceed three million Bahraini Dinars may submit a request to change the Tax Period to be on a monthly basis. If the Bureau agrees to change the Tax Period, then a notice of such change shall be issued indicating the effective date of the new Tax Period of the applicant.