Industries
- Consumer Products
- Energy & Natural Resources
- Education Sector
- Insurance Services
- Financial Services
- Healthcare Sector
- Manufacturing
- Not For Profit
- Public Sector
- Real Estate & Construction Sector
- Technology, Media & Telecommunications
- Travel, Tourism & Leisure
- Food and Restaurant
- Professional Services
Consumer Products
Growing demand in energy and resources, plus developments in new forms of energy and investment in sustainability sees significant shifts in these sectors.
Education Sector
Insurance Services
Forward-thinking organisations must examine every part of their business to turn the challenges facing the financial services industry into opportunities.
We’ve worked with all types of healthcare clients, including health IT, provider, payer, pharmaceutical and life science organisations.
Manufacturing
Working with all types of not for profit clients; charities, housing associations, education providers and trade unions, we understand your unique issues.
Our public sector teams provide services tailored to your industry in four key service areas, Operational efficiency, Infrastructure, Governance, and Audit.
Supporting you with pragmatic, tailor-made solutions for improvement and growth, through every stage of the business life cycle.
Successful businesses are responding by continually revising their business models, business strategies and product mix.
Dynamic businesses need to move with speed and purpose if they want to capitalise on opportunities in travel, tourism & leisure.
Food and Restaurant
Professional Services
Our progressive thinkers offer services to help create, protect and transform value today, so you have opportunity to thrive tomorrow.
Our progressive thinkers offer services to help create, protect and transform value today, so you have opportunity to thrive tomorrow.
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Business Risk Service
Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Transaction Advisory, M& A, Business Consultancy
Transaction Advisory, M& A, Business Consultancy
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IT Advisory
IT Advisory
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Business Process Solutions
Business Process Solutions
Our services can strengthen your business and stakeholders' confidence. You'll receive professionally verified results and insights that help you grow.
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Managing the VAT Audit
Managing the VAT Audit
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Transfer Pricing
Global transfer pricing is all about understanding your business and the value drivers of your industry in an ever-changing environment.
Our legal services help you understand the legal risks and opportunities when making business decisions.
The introduction of VAT in the GCC and the Kingdom of Bahrain in 2018 has brought significant change in the business environment.
We have listed below the things you have to prepare for and the factors that we have to consider as we prepare for VAT implementation:
- Understanding the VAT laws and regulations
- Accurate recovery of Input Tax and accounting of Output Tax
- Cash flow management
- Up-to-date financials and reporting deadlines
- Periodic audits from tax authorities
- Enhancement of technology platform, revision of operational transactions, training and development of teams
Our approach to VAT implementation
Grant Thornton’s customized solution has been broken down into distinct Delivery Modules in order to facilitate progressive integration of the new strategy function. The three different phases of our approach are:
- Business Review & Impact Assessment
- Strategic discussion with top management
- Meetings with functional teams
- Undertake the business impact
- Way forward
- Design and Implementation Support
- Scenario Analysis
- Risk Evaluation and Benefits
- Contractual Agreements
- ERP & IT Support
- Revision of policies
- Related Party Transactions
- Advice on VAT legislative updates
- Initial Compliance Requirement
- Training and Awareness
- Post- Implementation review and support
- Training
- Communication
- Compliance Support
Read more
Tax Advisory (VAT)