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As the name suggests, a simplified tax invoice is a simplified version of a tax Invoice. The format requires less information than a full tax invoice and it will be very useful for retail businesses like Supermarkets, whose customers are primarily unregistered.
The registered supplier can issue the simplified Tax invoice in the following cases:
If you look at the above cases, the simplified tax invoice will be most commonly used in B2C segment such as Supermarkets, Restaurant etc. and yes, even in B2B segment it can be issued, if the total consideration of the supply does not exceed BHD 500.
The following are the mandatory details to be captured in the Simplified Invoice in accordance with the provision of Bahrain VAT Regulations:
As per the mandatory details required in a Simplified Tax Invoice, a sample format of a simplified Tax Invoice is shown below:
If you observe the format, only the key details of Supplier, supply and VAT are mandated in the simplified invoice. In comparison on with Tax invoice, the simplified invoice requires very less information and can be easily prepared.
The following are the key points for issuing a Simplified Tax Invoice in Bahrain