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 ...

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 ...

Instead of reverting to an antiquated tax system, the House committee on ways and means has advised the Department of Finance (DOF) to study the possibility of putting a cap on input value-added tax ...

You can usually tell the year of manufacture by markings on the glass and on the plastics. All brand new unregistered cars are VAT qualifying. If they are purchased by, for example, a car rental ...

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 ...

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 Ghana National Chamber of Commerce and Industry (GNCCI) says government’s move to overhaul the Value Added Tax structure has finally killed off a system its members have battled for years.