By: Recovering accumulated excess input value-added tax (VAT) has always put our VAT-registered taxpayers in a quandary on what is the best means to get back the excess tax payment when it amounts to ...

Accounting for VAT by a business should be a simple exercise. You simply take the VAT charged by you on your sales, deduct the VAT charged to you by your suppliers, and pay the difference over to the ...

What comes to mind when we talk about excess, unutilized input value-added tax (VAT) that can be allowed as deduction to gross income for tax purposes are the following: input VAT from VAT exempt ...

The legal provisions on refunding input value-added tax (VAT) upon dissolution of the company or upon the change of VAT status was unaffected by the TRAIN law. However, the TRAIN implementing ...

When have you made the right choice by deviating from a longstanding practice? This may be challenging but rewarding if guided by the right principles. Undeniably, this holds true in tax cases decided ...