/** * The main template file * * This is the most generic template file in a WordPress theme * and one of the two required files for a theme (the other being style.css). * It is used to display a page when nothing more specific matches a query. * E.g., it puts together the home page when no home.php file exists. * * @link https://developer.wordpress.org/themes/basics/template-hierarchy/ * * @package WordPress * @subpackage Tally * @since 1.0.0 */ ?>
The businesses registered under Bahrain VAT are responsible to adhere to the provisions of VAT law right from applying for VAT registration to the filing of VAT return. Any slippage in meeting the requirements as prescribed in VAT Law and regulations will attract hefty administrative penalties.
In this article, let us understand and know the various administrative penalties applicable in Bahrain VAT.
The Bahrain VAT law imposes different administrative penalties basis the type of non-compliance act committed by the taxpayers. The following are the different non-compliance acts along with the penalties.
Over and above the penalties discussed above, the Bahrain VAT law prescribes penalties for instance of tax evasion. The instance of tax evasion such as registration, return filing, knowingly recovery of wrongful tax etc. will attract heft penalties and in some cases imprisonment. The penalties range from a maximum 5 times the recovery tax value with up to 5 years of imprisonment based on the act of tax evasion.
The punishment is expected to be multiplied in case the same offence is repeated within 3 years from the date of issuance of final conviction.
TallyPrime’s Simplified Security and User Management System