Generally, it is only when a taxpayer is engaged in zero-rated sale that the input value-added tax attributable to such sale may be subject to a refund. This applies to input VAT (purchases) incurred ...

Businesses often forgo input VAT credit if the purchase/expense invoice is more than 6 months old (or, 2 months in the case of monthly tax periods). Needless to say, such a tax position results in a ...

A UK court rejected a casino’s bid to switch a formula for taxing services that are hard to classify, depriving the company behind the gambling operation of a multimillion-pound tax decrease.

The implementation of Revenue Regulations 9-2021 is in suspended animation. What happens now? Some believe that everything goes back to the rules before RR 9-2021 was issued. But some are more ...

The government is set to amend the implementing rules and regulations of the reformed value added tax law to ease the impact of the 70 percent cap on input VAT claims on companies’ bottom line.

London’s Hippodrome Casino has failed to overturn a ruling on the method used to calculate the tax recovery for residual ...

Windhoek — In this series of articles, Cameron Kotze - the Tax Partner at Ernst and Young - discusses some topical tax issues for our readers. THE 2007 Value-Added Tax Amendment Bill will amend the ...

There have been various changes in the value-added tax (VAT) refund process these past few years, with the Bureau of Internal Revenue (BIR) continuously simplifying the requirements and procedure on ...

The ongoing fight between traders and the tax authorities is a clear indicator that the administration of Value Added Tax (VAT) has glaring gaps, which must be addressed to promote national ...

We have a small family business in the province. After listening to your radio interview last week at Go Negosyo sa Radyo (DZRH 666) which you also co-hosted, I checked our BIR registration and to my ...

Oman was the fourth Gulf State to introduce VAT after Saudi Arabia, the UAE, and Bahrain Also In This Package UAE: Money ‘rules of thumb’ you always need to know 7 common misconceptions about credit ...