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Gulf Press > Gulf > Bahrain > NBR imposes fines on 69 tax violators
Bahrain

NBR imposes fines on 69 tax violators

News Room
Last updated: 2024/06/28 at 2:13 PM
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The National Bureau of Revenue (NBR) in Bahrain is focused on improving compliance among commercial establishments in the country. This includes ensuring adherence to all relevant systems and legislation, such as the digital stamp system. In April and May of this year, the Bureau conducted a total of 296 inspection visits across local markets in various governorates. The main goal of these efforts is to safeguard consumer rights, combat tax evasion, and raise awareness about the necessary procedures to follow.

During these inspection visits, the Bureau identified several establishments that were in violation of laws related to value-added tax and selectivity. A total of 69 violations were identified, resulting in administrative fines being issued. Some of the common breaches included failing to issue proper value-added invoices, not displaying commodity prices inclusive of value-added tax, and not prominently displaying the value-added certificate. Additionally, it was found that some selective goods were being traded without valid digital stamps.

These inspection visits are part of the Bureau’s ongoing efforts to ensure compliance and promote a fair and transparent business environment in Bahrain. By cracking down on violations and enforcing penalties, the NBR aims to deter businesses from engaging in activities that harm consumers or evade taxes. The Bureau’s proactive approach to monitoring markets and identifying non-compliant establishments demonstrates its commitment to upholding the law and protecting the interests of the public.

In addition to enforcing compliance, the NBR also plays a crucial role in educating businesses about their tax obligations and the importance of following regulations. By raising awareness about the digital stamp system and other relevant procedures, the Bureau aims to help businesses avoid costly mistakes and legal repercussions. Through targeted outreach and information campaigns, the NBR seeks to foster a culture of compliance and responsibility among commercial establishments across the country.

Overall, the National Bureau of Revenue’s efforts to improve compliance among commercial establishments in Bahrain are essential for maintaining a fair and transparent business environment. By conducting regular inspection visits and enforcing penalties for violations, the Bureau is sending a clear message that non-compliance will not be tolerated. Through a combination of enforcement actions and educational initiatives, the NBR is working to create a level playing field for businesses and protect the rights of consumers. As Bahrain continues to position itself as a leader in the region’s economy, the NBR’s role in promoting compliance and combating tax evasion will be crucial for maintaining trust and stability in the marketplace.

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News Room June 28, 2024
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