VAT on Goods

Diesel prices hit new high despite fuel tax cut

Diesel prices have hit a new high despite lower fuel taxes, the figures show. The average cost of a liter of fuel on UK forecourts on Monday was 178.4p, according to government data. The previous record of 177.5p was set two days before Chancellor Rishi Sunak implemented a 5p per …

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NBR to enable more companies to easily release goods from ports

Three drugmakers have yet to fully utilize the AEO facility May 11, 2022, 10:35 p.m. Last modification: May 11, 2022, 10:39 p.m. Photo: Mohammad Minhaj Uddin/TBS “> Photo: Mohammad Minhaj Uddin/TBS The National Board of Revenue (NBR) Customs Department will expand the Authorized Economic Operator (AEO) facility to enable trusted …

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Indonesia imposes tax and VAT on crypto income and purchases at 0.1%

The Indonesian government announced the imposition of an income tax of 0.1% on crypto income and VAT on crypto purchases on April 1. The director of tax regulations at the Ministry of Finance, Hestu Yoga Saksama, confirmed to CNN Indonesia that the Indonesian government has decided to tax capital. earns …

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Veryfi Reveals Improved Mobile Receipt Capture for DTC Marketing Apps

At Retail Innovation Conference & Expo, Company Demonstrates Latest Artificial Intelligence-Based Capabilities for Consumer Packaged Goods and Retail Businesses SAN MATEO, Calif., May 11, 2022– Veryfi, using artificial intelligence (AI) technology to transform documents into structured data in seconds, announces enhanced mobile receipt capture capabilities in the latest version of …

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Recognition of company cards for the purchase of goods and services in taxation and VAT regulations

The use of company cards issued by suppliers of goods and services to their corporate customers, allowing them to arrange the purchase of company-related goods and services (e.g. gasoline, taxi, etc.) by its employees, has been recognized and regulated by the latest amendments of the relevant Serbian tax and VAT …

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Senate panel hears support for 12% VAT on Digital Services Bill

SENATE PRIB By Alyssa Nicole O. Tan GOVERNMENT AGENCIES and industry representatives have told a Senate committee they support a bill to impose a 12% value-added tax (VAT) on digital transactions, to ensure proper treatment equal tax for traditional and digital businesses. The measure clariIfes the VAT status of digital …

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Finance Ministry ’embarrassed’ Prime Minister Modi by releasing GST dues the day he reprimanded: P Chidambaram

Image source: PTI/ REPRESENTATIONAL (FILE). Finance Ministry ’embarrassed’ Prime Minister by releasing GST dues on day he reprimanded States 😛 Chidambaram. Strong points Congress leader P Chidambaram conducted a search today at the Center He recovered Rs 78,704 cr that the center owes to the states in GST compensation On …

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Reimbursement of the SAD authorized to the importer even if the VAT/sales tax rate is lower than the SAD rate or zero: CESTAT

By Rasheela Basher – On April 26, 2022 1:08 p.m. The Delhi Bench of the Customs, Excise and Service Tax Appeals Tribunal (CESTAT) ruled that the SAD refund is available even if the VAT/Sales Tax rate is lower than the SAD rate or no. even if the VAT/sales tax rate …

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FDP against value added tax relief for foodstuffs

In the debate on the rise in food prices, the FDP, co-governor, refuses an exemption from VAT for certain products. Faction leader Christian Dürr told the Neue Osnabrücker Zeitung (Friday): “Unfortunately, the VAT reduction is not a targeted measure to relieve low-income people.” He also said that the reduced tax …

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Review of IT Services (OTCMKTS: CSVI) and Global Blue Group (NYSE: GB)

Global Blue Group (NYSE: GB – Get Rating) and Computer Services (OTCMKTS: CSVI – Get Rating) are both small cap business services companies, but which is the better company? We’ll compare the two companies based on the strength of their profitability, earnings, valuation, institutional ownership, dividends, analyst recommendations and risk. …

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Short-term headwinds won’t derail long-term growth, analyst says

For a company with a market capitalization of around a quarter of a trillion dollars, Ali Baba (BABA) a stock’s one-year performance resembles that of a small cap. Over the past 12 months, stocks have lost 60% of their value as a confluence of bearish developments have continued to drive …

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Tough times lie ahead for Nigerians as FG’s new tariff regime begins in June 2022

Unbeknownst to Nigerians, tougher times lie ahead as the Federal Government has approved the implementation of a new tariff and tax regime on imported goods, primarily beverages, alcohol, telecommunication services, among others. Most importers and their agents may also be unaware of the new federal government tax regime, through the …

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Reconsider the migration of traders to the standard VAT rate – GUTA appeals to the government

The Ghana Traders Association (GUTA) has called on the government to address the challenges of the Value Added Tax (VAT) Flat Rate System (VFRS) before migrating traders to the Standard Rate System (SRS) . The Association noted that although trading in the market takes place under the same conditions and …

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Boda bodas, used cars likely to be targeted by a new tax

Boda boda operators resting on their motorcycles at the shell gas station in Section 58 on April 4, 2022, as they wait their turn to refuel. [Harun Wathari, Standard} Cabinet Secretary Ukur Yatani’s hidden ‘sin tax’ measure is likely to hit importers of boda boda motorcycles and secondhand cars  in …

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“Real possibility of volcanic eruption”

The Azores Seismovolcanic Information and Monitoring Center (CIVISA) warned that “there is a real possibility of a volcanic eruption” in São Jorge, but “there is no evidence that it is imminent”. In a status report published on its website, CIVISA says it has concluded “that the tectonic structures where the …

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Odisha records 49% growth in GST collection for FY 2021-22

Gross TPS collection from Odisha in the fiscal year 2021-22 was recorded at Rs 44,334.67 crore against Rs 29,852.76 core for the fiscal year 2020-21 with a growth of 49%. The corresponding collection for 2019-2020 was Rs 29,686.32 crore, informed the Central Commission of Revenue (CT) and GST, …

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Cambodia starts collecting VAT on e-commerce from today

The implementation of Value Added Tax (VAT) on e-commerce will start today after a three-month delay. Speaking to Fresh News, Kong Vibol, Minister Accompanying the Prime Minister and Director General of the General Directorate of Taxation, confirmed on the afternoon of March 31: “Nothing has changed, we have started applying …

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With another round of oil price hikes, Bayan says oil tax suspension is just and humane

DRY PUMP Several pumps at a gas station in Tagbilaran city, the provincial capital of Bohol, ran out of diesel on Tuesday as vehicle owners began filling their tanks on Monday evening ahead of the sharp rise in fuel prices this week. —LEO UDTOHAN MANILA, Philippines – The right thing …

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UWP accuses government of ‘blatant disinformation and propaganda’

– Advertising – The United Workers Party categorically denounces the statements made in a press release from theOffice of the Prime Minister of Saint Lucia on March 18, 2021. The content is replete with blatant inaccuracies, blatant misinformation and propaganda that was repeated by the Saint Lucia Labor Party during …

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Surplus revenue to help the public

If Thailand’s revenue for fiscal 2022 exceeds the government’s target, the finance ministry will spend the excess money to ease people’s living costs, the ministry’s permanent secretary Krisada Chinavicharana said. He said a tax cut could be a method of easing people’s financial burden. The government collected net revenue of …

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How Commodity Prices Inflated Globally, Then Lost Some Heat

The price of crude oil fell below $100 a barrel on Tuesday, belying forecasts made even before the war in Ukraine that it could rise above $150. The price of wheat has fallen more than $1.70 a bushel from its March 7 high, while soybean and palm oil have marked …

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Working group, tax cut soon to contain the rise in prices

The government on Sunday decided to take several new measures, including forming a task force and reducing taxes, to contain volatility in the commodity market ahead of Ramadan. An inter-ministerial meeting took the decision to control by all means the soaring prices of edible oil, sugar, lentils and other necessities …

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Duterte government claims highest income tax, VAT share of GDP

MANILA, Philippines – The Duterte administration is seen as assigning the highest share of personal income tax (PIT) collection to gross domestic product (GDP) after pursuing massive tax reforms, according to the ministry. of Finance (DOF). Deputy Finance Secretary Valery Brion said the contribution of the PIT effort averaged 2.4% …

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is the PN up to it?

News Opposition leader Bernard Grech addressing voters during the election campaign. Photo: PN In the context of yet another election dominated by the main parties in the country, The Shift decided to compare their electoral platforms with the main concerns of voters highlighted by the polls to determine if they …

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Pay attention to the difference (VAT)!

introduction Consumption taxes are a major source of revenue for governments. If you buy something from a nearby grocery store, chances are you will pay tax on that purchase. As expected, consumption taxes are not uniform across the world. For example, 27% and 31% of overall revenue comes from consumption …

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Russian CPU prices skyrocket thanks to sanctions

This site may earn affiliate commissions from links on this page. Terms of use. Federal governments around the world are imposing sanctions on Russia in massive condemnation of the ongoing invasion of Ukraine. In addition to the recently announced oligarch “Kleptocapture” and the withdrawal of Russian banks from SWIFT, there …

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Government abolishes fuel taxes

A ministerial statement said yesterday that Energy Minister January Makamba signed amendments to the tax regulations to comply with the cabinet decision, noting that the risky environment has driven up global prices. oil, affecting local market prices. The removal of the tax takes effect today until the end of May …

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Time to! Delhi restaurateurs hail lifting of curbs | Latest Delhi News

Restaurant owners in the capital are rejoicing as the Delhi Disaster Management Authority (DDMA) has lifted all restrictions, saying restaurants and bars can now operate without the nightly curfew. Even the 50% cap on seating capacity – put in place to ensure appropriate behavior in Covid-19 – will be revoked, …

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Garment exports to China decline

Although Bangladesh’s overall export earnings from China rose 9.81% year-on-year to $426.14 million over the past seven months, apparel shipments to the East Asian country the East did not meet expectations despite the tariff advantages. Apparel shipments to China fell to $131.20 million in the July-January period of the current …

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Taxpayers have until Friday to verify validity of IRS bills

Taxpayers have until next Friday, February 25 to go to the finance portal to validate invoices issued in 2021 with a tax identification number (NIF), so that the expenses count for counting the tax administration. Although the deadline for filing returns related to income earned last year does not begin …

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FIRS will rely on the 2021 finance law to obtain adequate funding from the budget – Nami

FIRS Executive Chairman Muhammad Nami delivering his speech at the National Symposium on “Taxation and the Challenges of External Shocks: Lessons and Policy Options for Nigeria”, held in Abuja. By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) said it will use the instrument of the 2021 Budget …

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Cameroon repatriated XAF 651.3 billion in export earnings in 2021, down 22% year-on-year

(Business in Cameroon) – Cameroon repatriated 651.3 billion FCFA of export earnings in 2021, informs the General Directorate of the Treasury. According to management, this is down 22.3% year-over-year. The volume of repatriated export earnings was estimated based on the number of certificates of repatriation of export earnings presented when …

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CPC will ensure price regulation is followed locally but cannot stop global inflation – Eye Witness News

Commissioner tells Bahamians to stick to rising prices NASSAU, BAHAMAS – The Consumer Protection Commission (CPC) assures the public that it will continue to monitor global developments in consumables and ensure that local wholesalers and suppliers adhere to the regulations set out in the Consumer Protection Act. consumers and price …

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Peter Lilley: Only the EU has threatened to impose land border controls between the UK and Ireland

Lord Lilley is a former Secretary of State for Trade and Industry and Social Security. Critics speculate that, without the protocol, the UK would introduce border checks and controls on trade with the Republic. In fact, the only party threatening a hard border on the island of Ireland was the …

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Government consults on future of customs system

The government is asking businesses, traders and the public to give their opinion on how the customs system works and what improvements they would like to see. The government will ask business and border industry for their suggestions on: improvements to help traders access a quality customs brokerage industry; how …

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[Ask the Tax Whiz] Are tech giants subject to 12% VAT?

The Philippine Tax Whiz explains House Bill 7425, which imposes value-added tax on digital transactions Undoubtedly, e-commerce in the country is growing exponentially. Due to this undeniable growth in the number of digital transactions and as part of the development of digital taxation in the Philippines, Congress approved House Bill …

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Electronic direct debit is a discriminatory tax -Seth Terkper

A former finance minister, Mr. Seth Terkper, has described the proposed electronic transaction tax (E-levy) of 1.75% as a discriminatory tax that does not promote the principle of fairness in taxation. He said that in the past four decades since the launch of the Economic Recovery Program or Structural Adjustment …

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Oil prices climb to seven-year highs ahead of OPEC+ meeting; markets await euro zone inflation data – live | Business

Hello and welcome to our ongoing coverage of the global economy, financial markets, eurozone and business. Oil prices climbed to seven-year highs hit last week after a drop in U.S. crude inventories suggested strong demand and amid a lack of supply, but investors remained cautious before a meeting of the …

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Raising the cap on income tax exemption : Chandigarh Beopar Mandal : The Tribune India

Tribune press service Chandigarh, January 28 The Chandigarh Beopar Mandal (CBM) has demanded an increase in the income tax exemption limit to Rs 5 lakh for all assessees in a memorandum to the Union Finance Minister, Nirmala Sitharaman. CBM Chairman Charanjiv Singh said they have demanded an increase in the …

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Where does the government borrow billions?

Piggy bank attacked by a virus The UK government has borrowed record sums to pay for measures to limit the impact of the coronavirus. Initiatives such as the furlough scheme – which ended at the end of September – have been expensive and government revenues are down as it collected …

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Some groceries with shipping delays but still available, says Roberts – Eye Witness News

NASSAU, BAHAMAS – While some items such as milk alternative and deli meats at Super Value have experienced shortages in recent weeks due to shipping delays, the grocery chain has braced itself for supply chain disruptions. global supply by purchasing at least three months of Provisions. U.S. full-service logistics provider …

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CBIC Steps Up Revenue Campaign

NEW DELHI : The Central Board of Excise and Customs (CBIC) is stepping up revenue collection this quarter in conjunction with state governments as tax administrations attempt to boost tax revenue and make up for revenue losses resulting from recent tax cuts. excise duties and value added tax (VAT) on …

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NBR examines the possibility of a tax refund on sukuk income

The National Revenue Board (NBR) is examining the possibility of granting an income tax reduction to individuals who invest in the Sharia-based sukuk bond, a senior tax authority official said yesterday. It was recommended by the Finance Division, which indicated that such a benefit was already in place for treasury …

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Abaco eyes Economic Council after growing tired of Nassau ‘dictates’

By NEIL HARTNELL Editor-in-chief of the Tribune [email protected] Abaco’s private sector is seeking to create an Economic Development Council for the island, it was revealed yesterday, after growing tired of being “dictated” by Nassau. Ken Hutton, president of the Abaco Chamber of Commerce, told the Bahamas Business Outlook conference that …

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NBR chases fake cigarette strip rolls

The Customs House Chattogram (CHC) and VAT Intelligence have already carried out several investigations to find the destination of fake cigarette strip rolls that evaded the gaze of authorities. Customs officers are also trying to uncover the identity of the “organized gang” that illegally imported fake music rolls through false …

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Legal issues relating to FDI in Thailand Part 4: Main taxes

The main tax law applicable to FDI in Thailand is the Tax Code (“RC”), which covers the following taxes: – (1) Corporate tax (“IS”) CIT applies to companies and legal entities registered in Thailand or registered abroad but carrying on business in Thailand. With the exception of SMEs, companies registered …

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Record tax taking of 68.4 billion euros paints a rosier picture after a year of pessimism

A record tax take last year is helping close the budget gap and reducing the government’s borrowing needs despite a spike in Covid cases and a partial foreclosure. he finance ministry collected 68.4 billion euros in taxes last year, the highest return on record, according to the Exchequer. The figure …

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Trends and tax purposes in 2022

The new year aoffstarted here, and it would be prudent to start the year off on the right foot by learning about trends that taxpayers may want to anticipate. This year there are new tax rules that need to start and end, some of which are outlined below. GLOBAL RECOGNITION …

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6 million UK homes may be unable to pay their energy bills after price hikes, charity warns | Fuel poverty

The number of UK households living in fuel poverty could reach the highest level on record by this spring, unless the government passes the blow of a looming record hike in energy bills, according to a charity against fuel poverty. Around 4 million homes in the UK were already classified …

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Main news of the day: poll panel declares parties against postponement of UP Assembly elections; Center reports Maharashtra, Bengal, Delhi as states of concern for COVID-19 cases, and more

Today’s news headlines, and more. All of Uttar Pradesh’s political parties were in favor of holding the 2022 Uttar Pradesh Assembly elections in accordance with the timeline following the COVID-19 protocol, Chief Election Commissioner Sushil Chandra said. However, guidelines on the management of large electoral rallies or on the need …

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AzerGold increases gold and silver production in 2021

December 28, 2021 12:29 p.m. (UTC + 04:00) 423 By Ayya Lmahamad Azerbaijani AzerGold CJSC board chairman Zakir Ibrahimov said the company increased gold production by 2% in 2021, Trend reported. He noted that AzerGold has produced 61,500 ounces of gold since early 2021. It should be noted that last …

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Excise department launches old regime to settle VAT cases: The Tribune India

Ambika Sharma Tribune press service Solan, December 23 In an effort to settle 1.68 lakh outstanding value added tax (VAT) and central sales tax (CST) business, the state tax and excise department approved the program. Himachal Pradesh Swarn Jayanti (Legacy Case Resolution) 2021. Various stakeholders and dealers, who have been …

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Brexit news: UK exporters rampage against EU bureaucracy “Lack of understanding is shocking” | City & Business | Finance

Overall, 45% of businesses reported problems, according to data from the British Chambers of Commerce (BCC). In January 2021, VAT and customs controls on UK goods entering the EU were introduced as part of the UK-EU Trade and Cooperation Agreement (TCA). The second part of UK border controls on incoming …

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Hospital linked to Kakamega tycoon gets stay in tax dispute

Companies Hospital linked to Kakamega tycoon gets stay in tax dispute Wednesday 22 December 2021 Cabinet Secretary of Health Mutahi Kagwe. PHOTO | FRANCIS NDERITU | NMG By CONSTANT MUNDAMore from this author Summary Health Secretary Mutahi Kagwe successfully asked his Treasury counterpart Ukur Yatani to exempt Hamptons Hospital from …

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Prudent tax strategy key to making Dubai the world’s largest diamond hub – News

Diamonds, gold and jewelry have been key industries in finding a home in the UAE thanks to its location, infrastructure, transparency, ease of doing business and tax regulations. By Ahmed Ben Sulayem Posted: Sun Dec 19 2021, 22:37 Last update: Sun Dec 19 2021, 22:58 In a letter to French …

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Customs Grant Suspicious Naira 79 Billion Import Waivers, Snub Auditor General

the Nigerian Customs Service in 2019, granted import duty exemptions worth 78.5 billion naira to local and foreign companies, including 14 foreign ministry staff, in violation of financial regulations, revealed the government’s audit report. The agency granted a waiver of 78.5 billion naira for businesses and 17.2 million naira for …

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Ninety days to change VAT pricing

• 90-day transition for the retail price review ‘nightmare’ • Super Value leaders fear that the duration will “shorten” it • Hotel problem: new rate for the “busiest day of the year” By NEIL HARTNELL Editor-in-chief of the Tribune [email protected] Retailers have been given a 90-day transition period to deal …

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New income tax law should free taxpayers from harassment

Businessmen said yesterday that the government should formulate a new income tax law in an attempt to iron out any trust issues between taxpayers and taxpayers. The tax administration should also seek the advice of all stakeholders before finalizing the tax bill, they added during a discussion. For all the …

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KRA launches new generation of postage stamps to fight counterfeits

The Kenya Revenue Authority (KRA) has deployed a new generation of excise stamps for excise goods as part of its strategy to continually review and improve the security features of excise stamps in order to deter counterfeiting. The excise goods covered include alcoholic beverages, tobacco and tobacco products, water, soft …

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MPC to announce start of policy standardization in February

The December Policy Review is expected to see the Monetary Policy Committee (MPC) and the Reserve Bank of India (RBI) maintain the status quo on interest rates and the stance of monetary policy, while changing the tone to prepare the markets for a change in February. In October, the MPC …

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Guatemala | implementation of customs services reasonable doubt digital system for customs valuation of goods

November 29e, 2021, resolution SAT-IAD-005-201 was published in the Official Gazette, by which the Superintendence of Tax Administration (SAT) through the customs steward agreed to regulate the guidelines and conditions Customs service’s digital use in relation to procedures that are carried out by means of electronic documents that support the …

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Country specific updates: Poland – Lexology

VAT groups in Poland (the so-called Polish agreement) As of January 1, 2022, Poland will allow the formation of VAT groups. This option will be available for taxpayers who: (i) are entities based in Poland or Polish branches of foreign companies; (ii) enter into a VAT group agreement for min. …

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In Kerala’s Hands, But Out Of Its Reach – The New Indian Express

Express news service THIRUVANANTHAPURAM: The challenges posed by the new, post-GST tax regime have added to the pressure on Kerala’s economy. There are fears that the ailing state’s finances will hit bottom if the GST compensation ends on the original deadline of June 30, 2022. Union Finance Minister Nirmala Sitharaman …

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Bullock cart protests, fuel prices and TN parties

Chennai: Tamil Nadu’s BJP, which was once on the defensive against high gasoline and diesel prices, has now turned offensive against the state government led by Chief Minister MK Stalin. The party staged an oxcart demonstration on Friday against the state government’s refusal to cut its value-added tax (VAT) on …

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Author Judith Fertig unveils her Easy Bread cookbook, just in time for the holidays

Conductor and author Judith Fertig. // Photo by Julia Shapiro If you’re a gluten glutton, the next five weeks are your Super Bowl. We are talking about loading up on hearty carbohydrates. Bring bread rolls, pastries, rolls and other sundries. Easy bread. Judith Fertig, local cookbook author (and Renaissance woman) …

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Nowhere to go as KRA installs VAT system to catch tax cheats

KRA’s iTax offices on Mombasa Road. Suppliers of electronic tax records have been urged to cease supplying non-compliant gadgets. [Edward Kiplimo, Standard] There is nowhere to hide for tax evading traders. This is after the Kenya Revenue Authority (KRA) gave a timeline for the implementation of a new electronic ledger …

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El Salvador announces its intention to build a so-called “Bitcoin City”

The President of El Salvador has announced an ambitious plan to build a so-called “Bitcoin City” in which cryptocurrency will be the only legal tender. President Nayib Bukele made the announcement on Saturday evening, saying the new city would be fully fledged. The city will include residential and commercial areas, …

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I bought a £ 315 returns pallet – received £ 1.7,000 worth of ‘broken’ products

A WOMAN has revealed she bagged items worth £ 1.7,000 after purchasing a return pallet of household items. Taz, who has 1.52 million YouTube subscribers on his ClickForTaz channel, shared his incredible journey in a recent video. 4 Taz was surprised at how many “broken” items were actually perfectly fine.Credit: …

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[EDITORIAL] Calls for tax reforms

In 2020, Lagos generated nearly 420 billion naira in internal revenue, more than three times its closest rival, Rivers State. It is no coincidence that the state systematically tops the list of states in internally generated revenue (IGR). It turned out to have the most efficient and competent tax collection …

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Court of Justice – Lexology

In Boehringer Ingelheim RCV GmbH & Co KG Magyarorszagi Fioktelepe (C-717/19), the taxpayer was a pharmaceutical company that marketed state-subsidized drugs to wholesalers. The wholesalers in turn sold the drugs to pharmacies who sold them to patients. The Hungarian public health insurance body operated a “purchase price subsidy” system whereby …

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Keep up to date with eFPS tax return updates

In the past four years, two major tax reform measures – the TRAIN law and the CREATE law – have been enacted. TRAIN entered into law in December 2017 and CREATE in March 2021. The reforms reduced personal and corporate tax rates. How prepared are we to implement the reforms …

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A guide for business owners

“VAT” on heaps of coins Value Added Taxes (VAT), which are a type of consumption tax, are major sources of revenue for the countries of the Organization for Economic Co-operation and Development (OECD), among other regions. According to the Tax Foundation, VAT actually contributed one-third of tax revenues in OECD …

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Higher costs on goods are here to stay, SAIT

Market analysts do not see any improvement in the cost of goods in the next period and until the first half of 2022. In fact, Cyprus is one of the most affected countries compared to other countries, due to its strong dependence on imports of products and raw materials, 95% …

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A Party Budget Commentary | Local company

The Minister of Finance has spent an inordinate amount of time talking about the impact of Covid-19 on society and the economy. Finance Minister Colm Imbert suggested, without saying so, that with the fall in prices and output in the energy sector and the resulting reduction in retained foreign currencies, …

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Still on the VAT debate | The cable

The Rivers State Government’s decision on who should take the Value Added Tax (VAT) has once again exploited and exacerbated our fault lines in the country. Normally this should be a good decision whereby we have to test some of our laws in the courts. As the Rivers State government …

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