1. Ensure VAT Compliance

The audit will facilitate a review of previously reported VAT returns with the intention of identifying any errors, thereby avoiding the risk of noncompliance being found by the Tax Authority itself, which can result in higher penalties for companies. Identification of errors or noncompliance at an earlier stage by a Leading & professional Audit firm is essential as it allows companies to take appropriate corrective measures (such as a Voluntary Disclosure scheme where applicable) which can save the company from a higher penalty burden in the eventuality of an official tax audit by the Authority.

2. Facilitates Cost Saving

Due diligence checks will decrease the risk of inadvertent double payment of VAT, incorrect VAT being charged by the suppliers, etc., and further assist in reducing exposure to penalties from the Tax Authority.

3. Helps Prepare for Future

Businesses will be prepared to face official tax audits by having all the required details ready on hand and avoid errors which may happen due to last-minute hastiness.

4. Support the Economy of the Country

As compliance is thoroughly examined, the chances of fraud to be conducted by the business are greatly reduced. More

At GSPU, we aim at designing the best financial structure to deliver a high cash-flow framework system. As a professional Audit firm in Bahrain, we provide a wide range of services that include:

Financial data analysis

Evidence Analysis 

Compiling information

Tracing illicit funds

Damage Assessment

Due Diligence Reviews

Business Valuation

Report Generation

Exposure to risk identification and analysis techniques
Recognizing creative financing alternatives to improve cash flow and overall costs
Assistance in managing risk management programs
Help in mitigating strategy weakness
Creating a powerful IT security environment

GSPU has been a prominent player in dealing with the accounting and taxation services for business entities, whether it be a startup or an established company. Understanding the importance and need for VAT Services for new and existing business entities is a responsibility of a Leading Audit firm in Bahrain. Few of our wide range of VAT services are:

VAT registration and VAT Group registration
VAT compliance and control
VAT filing and payment
Data record and management
Accounting