Bahrain issues VAT public clarification on VAT due date relating to loans

Posted on    02 September 2020
Bahrain issues VAT public clarification on VAT due date relating to loans

Bahrain's National Bureau for Revenue (NBR) has issued a public clarification VAT/PC/20/2 on the VAT due date for loans (including amounts advanced on credit cards) subject to a six month payment holiday from March to August 2020 under circulars issued by the Central Bank of Bahrain (CBB). Under the CBB circulars, Bahraini nationals and businesses are entitled to receive a payment holiday on interest / profit and capital arising on certain loans, including credit advanced on credit card accounts (together “Relevant Loans”). Payments on these loans will restart at the end of the six month period. Essentially, the Relevant Loans will be extended for up to six months without any additional charge being made to borrowers.

You can access Law including Guidelines, Cabinet & FTA Decisions, Public Clarifications, Forms, Business Bulletins for all taxes (Vat, Excise, Customs, Corporate Tax, Transfer Pricing) for all GCC Countries in the Law Section of GCC FinTax. 



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