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 ...

Potential fraud such as the “missing trader” scheme, identify-theft tax evasion or claiming input VAT for non-qualifying expenses are probed. To address economic pressures, the government is ...

The Federal Tax Authority (FTA) has issued a public clarification (VATP028) on mobile phones, airtime, and data packages ('MP, A, DP' for ease of reference) made available to employees for business ...

The Court of Tax Appeals (CTA) has denied a P10-million claim for refund of unused input value-added tax (VAT) filed by the regional operating headquarters in Manila of the Hong Kong-based Emerson ...

Businesses in China can continue to claim input VAT credits for domestic transport expenses incurred by its contracted employees, including dispatched staff. General VAT taxpayers will also be allowed ...

In the intricate landscape of Philippine taxation, the Value-Added Tax (VAT) system stands out as one of the most technical and rigorously enforced. For businesses engaged in zero-rated sales, the ...

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 ...