BIBF - Bahrain Institute of Banking and Finance
  • Home
  • Knowledge Areas
    • Academics
    • Banking & Finance
    • Insurance
    • Islamic Finance
    • Digital Transformation
    • Project Management
    • Leadership & Management
    • Assessment & Development
    • Human Resources
    • Marketing, Sales and PR
    • Real Estate
  • Courses Calendar
    • Courses Calendar 2023
    • Corporate Brochure
  • Online Payment
    • Enhance your Skills
      Advance your Career
    • MyClass
  • Search
  • Menu Menu

BIBF to Provide Tax Training in Saudi Arabia

You are here: Home1 / News2 / BIBF to Provide Tax Training in Saudi Arabia
Follow a manual added link

Academic Degrees

Bachelors and Masters Programmes
Follow a manual added link

Short Courses

Focused Training Programmes
Follow a manual added link

Professional Qualifications

Internationally-recognised Certification
Follow a manual added link

Customised Corporate Training

Customised Training & Development Solutions

BIBF to Provide Tax Training in Saudi Arabia

The Bahrain Institute of Banking and Finance (BIBF) has been listed with the General Authority of Zakat and Tax (GAZT) in Saudi Arabia, as a training service provider for VAT training.  The BIBF’s training services have been reviewed by the Saudi authority, allowing the institute to conduct training for Saudi organisations.

The General Authority of Zakat and Tax (GAZT) is a Saudi government agency headquartered in Riyadh and organizationally linked to the Saudi Ministry of Finance. It is made up of the Taxpayer Department and 19 branches around the Kingdom.

As part of the GCC Framework agreement, Bahrain will be implementing a 5% Value-added Tax (VAT) starting January 2019, as an indirect tax imposed on goods and services that are bought and sold by businesses. VAT is used in more than 160 countries around the world as a reliable source of revenue for national budgets.

With the current change in economic landscape, it is imperative to train teams within organizations and businesses to gain a better understanding on how to deal with this change, the challenges that accompany VAT, and its impact on business.

Implementing VAT will have implications for businesses and new taxpayers, both in Bahrain and abroad, directly and indirectly. The BIBF has prepared a VAT strategy that outlines practical steps businesses can take today, to be VAT ready and minimize any future effects, as well as optimize the impact of VAT on their operations.

The Unified Agreement for VAT of the Cooperation Council for the Arab States of the Gulf sets out the framework under which VAT can be implemented in each of the GCC member states. Understanding and preparing for VAT is essential to ensuring that businesses are not exposed to financial or regulatory risk, as a result of the tax being implemented.

Furthermore, the BIBF has launched a series of VAT Masterclasses that will target the Insurance industry, the financial services sector, in addition to a general masterclass, all free of charge, for all businesses and individuals to attend.

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share by Mail

© 2023 BIBF

    • Home
    • About Us
    • Board of Directors
    • Executive Management
    • Quality Assurance
    • Careers
    • The Campus
    • Alumni
    • In the News
    • Annual Report 2021
    • Feedback
    • Appeal Form
    • Complaint Form
    • Email Subscriptions
    • Contact Us

LET’S CONNECT

  • facebook
  • twitter
  • instagram
  • youtube-play
  • linkedin
The BIBF receives the U.S. Ambassador Justin SiberellBIBF presents Deliberations on Islamic Finance Contemporary Issues
Scroll to top
  • Home
  • Knowledge Areas
    • Academics
    • Banking & Finance
    • Insurance
    • Islamic Finance
    • Digital Transformation
    • Project Management
    • Leadership & Management
    • Assessment & Development
    • Human Resources
    • Marketing, Sales and PR
    • Real Estate
    • Back
  • Courses Calendar
    • Courses Calendar 2023
    • Corporate Brochure
    • Back
  • Online Payment
  • MyClass