Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...

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 Philippine Tax Whiz discusses the introduction of Output VAT Credit on Uncollected Receivables through Revenue Memorandum Circular 65-2024 of the Bureau of Internal Revenue. As a seller, who is ...

In April 2023, we highlighted in ‘Gulf News’ that the list of non-deductible expenses under the UAE corporate tax law refers to such input VAT that is ‘recoverable’ as compared to the input VAT ...

A proposed amendment to the Value-Added Tax (Vat) Act has been withdrawn for further consultation following concerns about the practical difficulties and the huge administrative burden it would have ...

FTA provides updates on how imports of goods and services can be factored in About a month back in this column, we highlighted a tax conundrum faced by the UAE business community, both in mainland and ...