A recent Tax Appeals Commission decision denied VAT input credit on the surrender of an option agreement related to a residential letting ...

Generally, it is only when a taxpayer is engaged in zero-rated sale that the input value-added tax attributable to such sale may be subject to a refund. This applies to input VAT (purchases) incurred ...

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 ...

Our client has a website which is his main trading platform.  In order to encourage customers to interact, he offers prizes - eg "enter this free ...

Hotelbeds UK Ltd operates as a wholesale supplier of hotel accommodation, purchasing rooms from UK VAT-registered hotels and reselling them to ...

IN last week's article, we discussed Revenue Memorandum Circular (RMC) 24-2022, which interpreted the rules on value-added tax (VAT) zero rating under the National Internal Revenue Code as amended by ...

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 ...

Many taxpayers have millions of pesos that are recorded in their books as unutilized input value-added tax or excess creditable withholding tax. Unfortunately, in many instances, they become paper ...

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 ongoing fight between traders and the tax authorities is a clear indicator that the administration of Value Added Tax (VAT) has glaring gaps, which must be addressed to promote national ...

TVS Motor Company gained more than 3 percent intraday Thursday. Brokerage house Goldman Sachs reiterated its conviction list-buy with target price of Rs 345, implying 34 percent upside after Tamil ...

One of the well-known and time-honored principles in the Law on Obligations and Contracts is solutio indebiti. The rule is that no person shall unjustly enrich himself at the expense of another.