News

Manama – National Audit Office:

As part of implementing the approved training plan for the professional year 2025/2026, and in line with efforts to strengthen employees’ capabilities and keep them informed of the latest tax-related developments, the National Audit Office held a training course on Corporate Income Tax and Multinational Enterprise Tax in collaboration with KPMG Fakhro.

The course aimed to introduce participants to tax systems, compliance requirements, and the regulatory and legal frameworks in the Kingdom of Bahrain, as well as the provisions and legislation governing the application of Corporate Income Tax and the Domestic Minimum Top-up Tax (DMTT) applicable to multinational enterprises, ensuring compliance with international standards, particularly the requirements of the global minimum tax.

The course also addressed how to calculate tax liabilities in accordance with the scope and standards set out in the relevant laws and executive regulations, tax accounting under applicable accounting standards, and the concept of transfer pricing and the key issues that should be taken into consideration.

It also discussed tax registration and deregistration procedures, the filing of tax returns, and other administrative requirements, in addition to reviewing the rules for calculating Corporate Income Tax (CIT) and the Domestic Minimum Top-up Tax (DMTT), with examples based on various scenarios.

The course also provided an overview of the payment process and the penalties applicable in cases of non-compliance, focusing on procedures for identifying risks associated with Corporate Income Tax and the Domestic Minimum Top-up Tax, as well as the internal audit procedures carried out as part of financial audit and compliance audit.

The course examined the main challenges involved in auditing this type of tax and the strategies needed to overcome them, presenting case studies, examples, and practical scenarios covering a variety of cases.

The course was attended by around 51 employees from various technical departments at the Office and across different job levels. It was delivered by specialised experts in the field from KPMG, who possess extensive academic qualifications and long practical experience.