ITAT Chennai held that when the cash is sourced out of recorded sales, the provisions of section 69A of the Income Tax Act could not be invoked since sales have already been offered to tax and taxing ...

A 12-week consultation on e-invoicing in business asked firms and other stakeholders for feedback on topics including different models of e-invoicing, if a mandated or voluntary approach is best and ...

Over the next 12 weeks, the government is consulting on standardising e-invoicing [1] to boost uptake across UK businesses and the public sector.

ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be brought to tax. Hypothetical income cannot be taxed. Hence, appeal of ...

This article compares China's New VAT Law with current regulations across six aspects to help businesses navigate the ...

THE Bureau of Internal Revenue (BIR) last Jan. 16 issued Revenue Regulations (RR) 3-2025 implementing provisions of Republic ...

David Kindness is a Certified Public Accountant (CPA) and tax expert: “Creating a VAT invoice isn’t complicated once you know ...

Aditya Wicaksono and Yoan Putra Muda of GNV Consulting summarise a regulation aimed at smoothing the transition to the new ...

The UAE government has taken steps to move towards a fully digitized tax system by adopting E-Invoices. The E-invoicing ...

Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...