Bahrain's Ministry of Finance issued a release on 28 November 2018 announcing that large companies are required to register for value added tax (VAT) before 1 January 2019, which is the date Bahrain's new VAT regime will be implemented. For the first phase of implementation, the registration requirement applies for companies with annual sales exceeding BHD 5 million. The registration threshold is to be subsequently reduced to BHD 500,000 from 1 July 2019 and ultimately to BHD 37,500 from 1 January 2020. Bahrain's VAT regime is in line with the Gulf Cooperation Council (GCC) VAT agreement, with a standard 5%...