Tag Archives: tax vat

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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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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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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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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[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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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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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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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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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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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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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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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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[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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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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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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Time for the settlement of the positive sum

It is recalled that on August 9, 2021, the Federal High Court sitting in Rivers State rendered a verdict on the legality of the collection of value added tax (VAT) in Nigeria, the declaration triggered not only legal arguments, but also raised economic and social concerns. The said ruling clearly …

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VAT rules for non-resident operators in e-commerce

The Ministry of Economy and Finance has issued a prakas introducing new rules and procedures governing value added tax (VAT) on goods and services provided through e-commerce. The new legislation, dated September 8, mainly targets e-commerce transactions between Cambodian tax-paying consumers and sellers active in Cambodian territory who are non-residents …

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DOF: VAT revenue rule will be replaced

The Ministry of Finance (DOF) on Thursday clarified that the controversial Revenue Regulations (RR) 9-2021 will be repealed and replaced with a new one that will allow exporters to continue to benefit from the zero value added tax (VAT). percent on their premises. purchases of goods and services “used directly …

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Trade body sorts new EU VAT rules

A local trade body is working to educate its network and find solutions regarding the recent removal by the EU of a value added tax (VAT) exemption for goods imported into the value block. not exceeding € 22 ($ 26), and the Import One-Stop Shop System (IOSS) option created for …

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New VAT rules for purchases outside the EU

From July 1, all goods imported into the EU will be subject to VAT regardless of their value Consumers who shop online have endless choice from the comfort of their own home. So it’s no surprise that e-commerce continues to grow in popularity. But despite the indisputable benefits of online …

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Taxation of software transactions | Manila weather

The 2019 Coronavirus Disease (Covid-19) pandemic has led people to drastically limit physical interactions; thus, it has accelerated and strengthened the expansion of digital transactions. People now prefer the transmission or delivery of documents, goods and all other items, electronically where possible. This is also true for software transactions where …

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Immerse yourself in the world of VAT

Limassol – The Chelco VAT International Academy recently launched a one-of-its-kind expert diploma in Cyprus in Value Added Tax (VAT). The Diploma of Excellence in VAT (DiVE) is a high-level course spanning a period of 10 months with a focus on Cypriot VAT legislation. The courses will start in September …

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Indonesian tax administration defends food tax plan

JAKARTA (The Jakarta Post / ANN): The General Directorate of Taxation has championed a plan to change the rules for value added tax (VAT) that will levy taxes on basic foods and educational services, arguing that proposed changes will not weigh on income households but make taxation fairer for everyone. …

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Global Amazon Store sales of your FBA products

Amazon reminded sellers of the Global Amazon Store where they can decide to buy your products and sell them in countries where you don’t currently sell. This will only happen when you are registered for VAT AND products are offered as Fulfilled by Amazon. It costs nothing to participate in …

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Stripe launches tax compliance tool

Stripe, the tech company that is building economic infrastructure for the internet, today announced the launch of Stripe Tax to help businesses automatically calculate and collect sales tax, value-added tax (VAT), and tax. Goods and Services Tax (GST) in over 30 countries *. Stripe Tax makes every aspect of global …

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10 Sony PS5 seized by Indian customs services »TalkEsport

– Publicity – – Publicity – Yesterday (June 5), the Special Investigations and Intelligence Directorate of the Customs and Air Cargo Export Commission at IGI New Delhi Airport intercepted and seized 222 iPhones of various models, 173 used laptops, 10 PS5 consoles. and 4,391 health supplements. The overall market value …

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Data Analysis Makes Tax Management Easier: Arvind Mishra

Share Tweeter Share Share E-mail Share Listen to this article Since the start of the COVID pandemic, governments, private companies, educational institutions and others have gone digital to ensure business continuity. However, with this, the government has evolved and so has its methods of income generation and management. Sharing his …

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Zero duties, taxes on the import of 46 emergency goods

But the imported products must be approved by the General Directorate of Drug Administration Department The government has exempted all types of duties and taxes on the import of 46 types of emergency products, including hand sanitizers, masks, test kits, diagnostic equipment and protective clothing used for prevent the spread …

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Factchecker: Bread not subject to VAT

Bread will not attract value added tax (VAT) at the rate of 16 percent from July 1, as has been widely reported. Although the 2021 finance bill includes a proposal to remove the supply of ordinary bread from the list of zero-rated products, its supply remains included in the tax-exempt …

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When and why do I’ve to register for VAT?

Aaron Gilmore of TreyBridge Accountants. Photograph: VIP Inventive. Van added tax, or VAT, will be each an inconvenience and a bonus. The distinction will depend on whether or not what you are promoting and your prospects are registered for VAT, as the additional 20% can typically be overwhelming when selecting …

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