Bahrain VAT legislation was announced in October 2018 for a January 2019 launch, i.e. a three-month timeframe. For many businesses, this seemed an impossible feat. As was the case with Bapco (Bahrain Petroleum Company), which, as the national oil production and refinery group, had previously only had trade interests within Bahrain itself, and therefore had not previously sought an automated tax determination solution.
The Finance Team at Bapco was cognizant of its obligations under the new VAT regime; preparation for launch would be a complex undertaking and incredibly tricky to manage thereafter. Adding an extra degree of intricacy was the small timeframe to the ‘go live’ date.
Bapco appointed Innovate Tax as its tax technology partner in November 2018, in recognition of our knowledge, strong client portfolio and position as the only provider capable of implementing a fully automated solution before the launch date.
What did Innovate Tax achieve with Bapco?
For Bapco, it wasn’t just about the ‘technology’ on offer; Innovate Tax had the powerful combination of technology, swift turnaround time and a position of authority for regional VAT set-‐ups – an assuring blend that is unique to us.
- Bahrain Petroleum Company
- Implementation of Bahrain VAT in short timescale