Although, he said VAT is ultimately a tax on the supply of goods and services to consumers, the charge of value added tax
on all supplies to both businesses and consumers will mean that businesses will become tax collectors on governments' behalf.
Value added tax
law in the same frame of the law allows taxpayers benefit from professional audit services to audit value added tax
and report compliance with the conditions and guidelines of the state tax agency will determine in Article27 is predicted.
Tax Executives Institute appreciates this opportunity to present our views on the Consultation Paper on modernising Value Added Tax
obligations for financial services and insurances.
In 1993, an AICPA task force began a study of tax reform alternatives, including the flat tax, value added tax
, national sales tax and consumer income tax, with the goal of recommending a policy position.
While supporting the need for a value added tax
, many VAT proponents have expressed concern for potential incidences of abuse that such a tax may allow.
Muscat: A pact on value added tax
(VAT) will be signed in the coming days, the secretary general of taxation at Ministry of Finance has said.
O Sullivan also discussed the different case scenarios of VAT and its applicability to different types of companies, as well as the significant impact of Value Added Tax
(VAT) to businesses and the importance of early planning.
Summary: Lebanon's merchants and traders are contemplating not paying the value added tax
in November in order to press politicians to speed up the formation of a Cabinet, a body of merchants warned Thursday.
He further said that in the indirect tax regime, he was moving towards Goods and Service Tax (GST) for which it was important to align the excise duty and the service tax along with the state Value Added Tax
Answering a query about governments plan to implement reviewed General Sales Tax (GST) in the form of Value Added Tax
(VAT) she said Value Added Tax
is a refined form of General Sales Tax and it would include all the goods and services which were previously exempted from General Sales tax.
He said that value added tax
is not a new tax it is the alternate of GST and any decision of regarding value added tax
would be taken in the national interest.
And he wants a modern tax system, which in his view would be a value added tax