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 ...
Many taxpayers have millions of pesos that are recorded in their books as unutilized input value-added tax or excess creditable withholding tax. Unfortunately, in many instances, they become paper ...
The legal provisions on refunding input value-added tax (VAT) upon dissolution of the company or upon the change of VAT status was unaffected by the TRAIN law. However, the TRAIN implementing ...
Seven years after relevant judgments from the CJEU, the Belgian VAT authorities now (broadly) allow the recovery of input VAT beyond the standard Belgian limitation period of three years, subject ...
Manama, Bahrain: Value Added Tax (VAT) has been implemented in in the Kingdom of Bahrain from 1 January 2019. This tax regime differs from corresponding legislation in UAE and Saudi Arabia in some key ...
Potential fraud such as the “missing trader” scheme, identify-theft tax evasion or claiming input VAT for non-qualifying expenses are probed. To address economic pressures, the government is ...
Businesses in China can continue to claim input VAT credits for domestic transport expenses incurred by its contracted employees, including dispatched staff. General VAT taxpayers will also be allowed ...
Manama, Bahrain: Value Added Tax (VAT) has been implemented in in the Kingdom of Bahrain from 1 January 2019. This tax regime differs from corresponding legislation in UAE and Saudi Arabia in some key ...
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