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.
Following the implementation of longer--time goals such as value added tax
, information transparency, expand the tax base is achievable.
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.
The Value Added Tax
(TVA) will first apply to companies, whose overall sales exceed BD5 million annually.
He clarified that the percentage of value added tax
in Saudi Arabia is low compared to international rates, pointing out that a higher rate of tax would lead to a higher value of penalties which could have a significant impact on business.
RSM hosts a VAT Seminar for companies in the GCC to understand the introduction and implementation of Value Added Tax
. Hosted at The Meydan Hotel on October 4, 2016, titled 'Let's Talk VAT' event provides companies in the GCC with a general understanding of Value Added Tax
(VAT) and its likely impact on their businesses.
E&Y Qatar tax director Jennifer O Sullivan delivering a presentation on value added tax
in the GCC.
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.
The major issues facing EU accession target changes to the Value Added Tax
(VAT) systems, Customs regimes, and income taxes.