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.

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

Accounting for VAT by a business should be a simple exercise. You simply take the VAT charged by you on your sales, deduct the VAT charged to you by your suppliers, and pay the difference over to the ...

Becoming an investment hotspot has been the goal of the Philippines for some time. Challenging the dominance of well-known ...

Instead of reverting to an antiquated tax system, the House committee on ways and means has advised the Department of Finance (DOF) to study the possibility of putting a cap on input value-added tax ...

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 ...

To avoid losing margins to SARS, retailers need to ensure that they are in possession of associated tax invoices for VAT inputs. Following successful SARS legal cases, companies need to ensure that ...

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 ...

THE Philippine Congress on May 24, 2005, enacted into law the Value Added Tax Reform Act otherwise known as Republic Act No. (RA) 9337, which eventually became effective on Nov. 1, 2005. The validity ...

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 ...